A monopsonist faces a constant elasticity of labor supply of 1.5. If the monopsonist pays $15 per hour, its marginal expenditure equals

If the Heckscher-Ohlin model is correct, there would never be intraindustry trade

Indicate whether the statement is true or false

If 50 percent of the population receives 20 percent of the total income, it can be represented on the Lorenz curve by:

a. a point below the line of income equality. b. a line below the line of income equality. c. a point on the line of income equality. d. a line intersecting the line of income equality from below. e. a point above the line of income equality.