If a labor market that was previously competitive becomes controlled by a monopsony, the wage rate ________ and employment ________

If a buyer enjoys a consumer surplus of $25 when he purchases a good for $50, his willingness to pay for the good is ________

A) $2 B) $25 C) $50 D) $75

If the government regulates the price a natural monopolist can charge to be equal to the firm's average total cost, the firm has no incentive to reduce costs

a. True b. False Indicate whether the statement is true or false