Which type of market structure contains a single buyer?
a. Monopoly.
b. Monopsony.
c. Oligopoly.
d. Oligopsony.
Ans: b. Monopsony.
Economics
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Spending more time commuting in exchange for a lower monthly rent refers to a(n):
A) barter. B) trade-off. C) externality. D) monetary exchange.
Economics
The law of diminishing marginal returns says that as the firm uses more of ________, with a given quantity of ________, the ________ product of the variable input eventually diminishes
A) a fixed input; variable inputs; marginal B) all inputs; capital; average C) a variable input; fixed inputs; average D) a variable input; fixed inputs; marginal
Economics