For a monopsonist, the marginal factor cost is always:
a. equal to the wage rate.
b. less than the wage rate.
c. greater than the wage rate
d. the same as the labor supply.
e. the same as the labor demand.
c
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Bananas cost about $1 a pound and ground beef costs about $3 a pound. If Jenna has $18 to spend on groceries and she only buys bananas and beef, which of the following is a possible combination of these goods that could maximize her total utility?
A) 18 lbs of bananas and 6 lbs of beef B) 10 lbs of bananas and 8 lbs of beef C) 8 lbs of bananas and 3 lbs of beef D) 3 lbs of bananas and 5 lbs of beef
In 2014, what percent of the population lived under the official poverty line in the United States?
A. 11.3 percent, down from a near all-time high of 14.8 percent in 2000. B. 14.8 percent, higher than a near all-time low of 3.11 percent in 2000. C. 14.8 percent, higher than a near all-time low of 11.3 percent in 2000. D. 11.3 percent, down from a near all-time high of 25 percent in 2000.