Author Question: Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand ... (Read 47 times)

tiffannnnyyyyyy · **on:** Jun 29, 2018

Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand for products ________ the demand for bakers and ________ the equilibrium wage rate paid to bakers.

A) increased; raised
B) decreased; raised
C) increased; lowered
D) decreased; lowered

Question 2

The above figure illustrates a single-price unregulated monopolist. If the monopolist maximizes its profit, the consumer surplus equals ________.

A) 20,000
B) 10,000
C) 45,000
D) 40,000