Workers are likely to have more bargaining power to negotiate higher wages with employers if

Sipho consumes two goods A and B. P_A and P_B, MU_A and MU_B and TU_A and TU_B represent prices, marginal utility and total utility of A and B, respectively. When will Sipho achieve consumer equilibrium?

Taki

hopes to become a dentist one day. In the meantime, like many of his friends,

he is selling sweets at the local taxi rank. The following diagram shows his

cost and revenue curves. 

Given

the market price, the Taki's total cost per day is

Workers at a bicycle assembly plant currently earn a mandatory minimum wage. If the government increases the minimum wage by R1.00 an hour, it is likely that the