The gap between the value a monopsony places on the last worker hired and the wage paid will increase when
A) the supply curve becomes more elastic at the optimum.
B) the supply curve becomes less elastic at the optimum.
C) the supply curve becomes horizontal.
D) the value of the last unit of labor hired is greater than the cost.
B
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With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. As a result,
A) frictional unemployment is higher, on average, in the United States than in Canada. B) the opportunity cost of job search in Canada is lower than in the United States. C) the average duration of unemployment is longer in the United States than in Canada. D) the unemployment rate in Canada is usually higher than in the United States.
Refer to Figure 13-9. Which of the graphs in the figure depicts a monopolistically competitive firm that is earning economic profits?
A) Panel A B) Panel B C) Panel C D) Panel A and Panel B