At a price above the equilibrium price, there is

The quantity of labor supplied increases as the real wage rises because

A) higher real wages mean that nominal wages have increased. B) the opportunity cost of working increases. C) the quantity of labor demanded increases. D) labor force participation decreases so that only serious workers are left in the labor force. E) the opportunity cost of leisure rises.

Refer to Figure 2-9. What is the opportunity cost of producing 1 popsicle in Iceland?

A) 1 1/2 snow cones B) 3/4 of a snow cone C) 2/3 of a snow cone D) 270 snow cones