South Korea’s comparative advantage in cellular technology can be attributed to:

With free entry into Cave Rock at Lake Tahoe Nevada State Park, people park in undesignated areas, crowd the lakeshore, and trash the bathroom facilities. When the park charges an entry fee of $10 per vehicle and $20 per boat launch, fewer people visit, so parking is better, crowds get smaller, and there is less trash. Visitation to the park is _____ with free entry and _____ with the entry fees.

When technology enables the best performer in a field to supply a huge number of buyers instead of being limited to a small market, the larger market may become:

Suppose that Panh gets a promotion that comes with an increase in her annual salary. Her labor supply curve will be _____ if the substitution effect is _____ than the income effect.

You run a small insurance business but face a problem with new recruits poorly trained in your company’s software. Which of these is NOT an effective long-term strategy for improving your business?

Andrew, a landscaper, has asked his boss for a pay raise. His boss is concerned that, if he increases Andrew’s wage, Andrew might work less. In other words, Andrew’s boss is concerned that leisure is a normal good for Andrew and that the:

(Figure: Market for Pants) The figure shows the domestic market for pants. According to the figure, if there is international trade in this market, and the world price of a pair of pants is $40, the value of the domestic producer surplus is:

The streaming service Netflix announced plans to crack down on customers who share their account password with people who don’t live in the same household. The streaming service is _____, and, without intervention, those who don’t pay for their own accounts _____.

Gabriel’s wage is $30 per hour, and he works 50 hours a week, which is his optimal labor supply at that wage. His marginal utility of one hour of leisure is equal to the:

Costly or negative factors to consider that vary across occupations include: