In Chapter 5, we used a labor-leisure constraint line and va…

In Chapter 5, we used a labor-leisure constraint line and various indifference curves to model consumer preferences between labor and leisure hours.  This model was analogous to indifference curves and budget constraints in Chapter 2.   What can we say about indifference curves in general?

Table 2 – Market for disposable face masks (in wholesale car…

Table 2 – Market for disposable face masks (in wholesale cartons) Price    Quantity Demanded                Quantity Supplied 10                    100                                          500   8                    200                                          400   6                    300                                          300   4                    400                                          200   2                    500                                          100 In Table 2, the equilibrium price is ____ dollars per wholesale carton, and the equilibrium quantity is _____ cartons: