Competitive Market
What will be an ideal response?
A market in which there are many buyers and sellers so that each has a negligible impact on the market price.
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Using the standard 45-degree line diagram, how does a decrease in net exports effect the expenditure schedule?
a. It increases the slope of the expenditure schedule. b. It decreases the slope of the expenditure schedule. c. It shifts the expenditure schedule upward. d. It shifts the expenditure schedule downward.
In the market for labor, the monopsonist is the sole:
A. buyer and can keep wages up, above the competitive wage. B. seller and can push wages down, below the competitive wage. C. buyer and can push wages down, below the competitive wage. D. seller and can keep wages up, above the competitive wage.