Lorna's Lumberyard is a monopsony. Lorna estimates that at a wage of $10 per hour, 100 workers would be willing to work for her. Similarly, at a wage of $12 per hour, 200 workers would be willing to work. Her marginal labor cost is

A grocery shopper considers "eliminating" the middleman. What might she do?

A) Raise her own cows, slaughter them, and butcher her own meat. B) Grow her own wheat, mill it into flour, and bake her own bread. C) Build her own fishing boat and begin halibut fishing. D) All of the above.

Suppose that when the price of good X increases from $800 to $850, the quantity demanded of good Y increases from 65 to 70 . Using the midpoint method, the cross price elasticity of demand is about

a. -1.2, and X and Y are complements. b. -0.1, and X and Y are complements. c. 0.1, and X and Y are substitutes. d. 1.2, and X and Y are substitutes.