In a bilateral monopoly, wages and employment are determined by
A. The intersection of market supply and demand.
B. The intersection of marginal cost and marginal revenue product.
C. Negotiation.
D. The intersection of marginal wage and market demand.
Answer: C
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Suppose that an American opens and operates a candy factory in Finland. This is an example of
a. foreign direct investment. American saving is used to finance Finish investment. b. foreign direct investment. American saving is used to finance American investment. c. foreign portfolio investment. American saving is used to finance Finish investment. d. foreign portfolio investment. American saving is used to finance American investment.
Refer to the graph shown. When the market is in equilibrium, consumer surplus is equal to:
A. 1,500. B. 2,250. C. 1,125. D. 2,500.