When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure

Currently, when a consumer purchases a "green" automobile, the U.S. government gives the consumer a rebate. When the rebate program expires, we would expect

A) producer surplus to increase. B) consumer surplus to drop. C) consumer surplus to remain unchanged, since they pay the price and only get the rebate later. D) producers to stop making "green" automobiles.

In a perfectly competitive labor market, a profit-maximizing firm will hire labor up to the point at which the

a. wage rate = MRC b. wage rate < MRP c. wage rate = MRP d. wage rate > MRP e. wage rate = MP