Control of a scarce resource or input can serve as an entry barrier

The quantity of real GDP demanded equals $16.2 trillion when the price level is 90. If the price level rises to 95, the quantity of real GDP demanded equals

A) less than $16.2 trillion. B) $16.2 trillion. C) more than $16.2 trillion. D) more information is needed to determine if the quantity of real GDP demanded increases, decreases, or does not change.

A monopsony is a term used to refer to a firm that is the sole seller of a good or service

Indicate whether the statement is true or false