Income elasticity of demand is greater than zero for all of the following except

Which of the following reasons explains why rich countries persistently restrict textile imports from poor countries?

A) The trade restrictions make textile consumers better off. B) The trade restrictions make workers in poor countries better off. C) The trade restrictions benefit an organized visible special interest in rich countries. D) Rich countries have a strong need for the revenue from these trade restrictions.

According to the above table, if the marginal revenue product is $48, how many workers will the profit maximizing monopsonist hire?

A) 5 B) 6 C) 7 D) 8