A monopsony is an example of:
A. a buyer holding market power.
B. a seller holding market power.
C. a single seller holding all market power.
D. an efficient market with no market power.
Answer: A
Economics
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The own-price elasticity of demand is defined as:
a. the ratio of a change in quantity demanded and the change in price. b. the ratio of the percentage change in quantity demanded to the percentage change in price. c. the ratio of the percentage change in quantity demanded to the percentage change in input prices. d. the ratio of a change in output and the change in input usage.
Economics
Ceteris paribus, rising employment rates imply
A. Lower labor force participation rates. B. Higher labor force participation rates. C. Falling per capita GDP. D. Rising per capita GDP.
Economics