At high wage rates, the labor supply curve bends backward because ...

[bucstennis@aim.com]

At high wage rates, the labor supply curve bends backward because the ________ effect dominates the ________ effect.
 
  A) income; price
  B) substitution; income
  C) substitution; price
  D) income; substitution

Question 2

The Sherman Act makes it illegal to
 
  A) increase market share.
  B) merge firms in the same industry.
  C) attempt to monopolize an industry.
  D) price below competitors.

[cupcake16]

Answer to Question 1

D

Answer to Question 2

C