A monopoly is a sole ____, and a monopsonist is a sole ____

When marginal benefit exceeds marginal cost in a market,

A) only consumer surplus is reduced. B) only producer surplus is reduced. C) consumer surplus and producer surplus are not affected compared to when production is such that marginal cost equals marginal benefit. D) the deadweight loss is negative. E) None of the above answers is correct.

Race to the bottom refers to which of the following?

A) Firms have an incentive to relocate to countries with lower standards. B) Countries have an incentive to conform to the standards of the lowest income country. C) Countries will compete with each other to offer incentives to firms. D) Firms will underpay workers in low income countries.