Households pay firms for goods and serivces. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the

Some college students have claimed that because their incomes will be higher as a result of attending college, there is no opportunity cost of attending college. Do you agree? Explain

A monopsonist hires labor in a market with perfectly competitive supply. Whenever she hires an additional worker,

a. she must reduce the wage paid to all workers already hired. b. she will not change the wage paid to all workers already hired. c. she must raise the wage paid to all workers already hired. d. she may or may not choose to change the wage paid to all workers already hired.