A good is most likely to be inefficiently priced if
a. some of the resources used in its production are scarce.
b. the good is private property.
c. some of the resources used in its production are free.
d. a corporation produces the good.
c
Economics
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The new Keynesians emphasize the importance of
A) rational expectations. B) sticky wages and prices. C) real causes of the business cycle. D) the monetary growth rule.
Economics
A monopsony has an upward sloping supply curve because
A) diminishing marginal product to scale does not exist in a monopsony. B) each additional unit of labor costs less. C) when more units of labor are hired, all laborers must receive the higher wage. D) when more units of labor are hired, only the new workers receive the higher wage.
Economics