The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, compared to a perfectly competitive market, the change in producer surplus is

A bilateral monopoly means

A) that a monopsonistic employer bargains with two unions. B) that a monopsonistic employer bargains with both an industrial and a craft union. C) that a monopsonistic employer bargains with a monopoly. D) that an industrial union bargains with a two-firm oligopoly.

Ashley recently got a 15 percent raise. She now purchases 7.5 percent more coffee. Ashley's income elasticity for coffee is

a. 0.5. b. 0.75. c. 1.5 d. 2.