The supply curve of labor to a monopsonist is
A) upward sloping.
B) downward sloping because of the law of diminishing marginal returns.
C) downward sloping, but not because of the law of diminishing marginal returns.
D) horizontal.
A
Economics
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Refer to Figure 13-8. Based on the diagram, one can conclude that
A) some existing firms will exit the market. B) the industry is in long-run equilibrium. C) new firms will enter the market. D) firms achieve productive efficiency.
Economics
An increase in the expected price level shifts the
a. short-run and long-run aggregate supply curves left. b. the short-run but not the long-run aggregate supply curve left. c. the long-run but not the short-run aggregate supply curve left. d. neither the long-run nor the short-run aggregate supply curve left.
Economics