Firm A is a monopsonist that faces a labor supply elasticity of 2.4 whereas Firm B is a monopsonist that faces a labor supply elasticity of 1.4. Which of these monopsonists has a higher markup over wage?

Which of the following is most likely to indicate a statistically significant regression coefficient?

A) |t| > R2 B) R2 > .90 C) |t| > 2 D) |t| > 4

Which of the following statements explains increasing returns to scale? a. A larger firm can produce at a higher average total cost than a smaller firm. b. A larger firm can produce at a lower average total cost than a smaller firm

c. A larger corporation has lower opportunity costs than a smaller corporation. d. The cost of production for each unit of good in a small firm always increases as output increases.