Which of the following statements is true about monopsony?
a. c and e.
b. c, d, and e.
c. Monopsonists exercise complete buying power.
d. Monopsonists maximize profit by setting MRP = MFC.
e. Monopsonists face the whole labor supply curve.
b
Economics
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Which of the following is not a reason why government officials are willing to impose entry barriers?
A) to raise revenue B) to encourage innovation which may improve the standard of living in the long run C) to increase economic efficiency D) to promote an equitable distribution of income
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Business cycles are a persistent feature of the U.S. economy.
Answer the following statement true (T) or false (F)
Economics