India would raise income levels faster if workers migrated from the country to the city

If at a price of $50, Ghani sells 20 hand-made leather cell-phone covers but at a price of $60, zero units are sold. Based on this information, the demand for his cell-phone covers is

A) elastic or perfectly elastic. B) unit elastic. C) perfectly inelastic. D) elastic or perfectly inelastic.

Refer to Figure 10.3. What quantity will the monopsonist purchase to maximize profit?

A) Q1 B) Q2 C) Q3 D) Q4 E) none of the above