Refer to the diagrams. The firm:
A. is a monopsonist in the hiring of labor.
B. must be selling its product in an imperfectly competitive market.
C. is a "wage taker"
D. must pay a higher marginal resource cost for each successive worker.
C. is a "wage taker"
Economics
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According to the text, government licensing frequently enables monopoly in
A) agriculture. B) electricity production. C) mining. D) retail sales.
Economics
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Economics