A monopsonist can pick the ____, while a monopolist can pick the ____.
A. price it will charge; wage it will pay
B. wage it will pay; price it will charge
C. number of competitors; number of buyers
D. marginal product of labor; marginal cost of labor
Answer: B
You might also like to view...
The Road Runner Club contributes money to Senator Sly's reelection campaign fund, and Senator Sly helps pass legislation to add more jogging paths across the state. From this we can definitively conclude:
A. that political corruption has occurred. B. that logrolling has occurred. C. that a principal-agent problem has occurred. D. nothing; the Road Runner Club may have donated to Senator Sly because he already supported the jogging paths.
Relative to 1800, today in the world there are:
A. more people but lower per-capita consumption. B. more people but the same per-capita consumption. C. more people and higher per-capita consumption. D. the same number of people but higher per-capita consumption.