The true cost of any product purchased by the military is its purchase price

Locating a point on a utilities possibilities frontier gives you information about

A) both equity and efficiency. B) equity but not efficiency. C) efficiency but not equity. D) profitability but not efficiency.

Given the information in Figure 14.4, the monopsony wage rate is:

A) W1. B) W2. C) W3. D) W4. E) none of the above