What is the horizontal intercept of the budget line, given that M = $1,000, PX = $50, and PY = $40?

As in the modern world, price-discriminating railroad industrialists of yesteryear charged the highest prices in markets with the steepest competition

Indicate whether the statement is true or false

A monopoly's demand curve for labor

A) is below that of a competitive market. B) is the same as that of a competitive market. C) is above that of a competitive market. D) equals p ? MPL.