An economy has two workers, Jen and Rich. Every day they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. To maximize total output, Jen should specialize in producing ________ while Rich should specialize in producing ________.

The lower Sunday and Saturday prices also result from the ability __________________ has given airlines to throw discounts in front of consumers at any time.

Fill in the blank(s) with the appropriate word(s).

If the market price rises from P0 to P2 in the above figure, then there is a

A) surplus equal to the distance Q0, Q2. B) surplus equal to the distance Q1, Q2. C) shortage equal to the distance Q0, Q2. D) shortage equal to the distance Q1, Q2.