When consumers act as price-takers, we say that they behave
A) cooperatively.
B) competitively.
C) monopsonistically.
D) irrationally.
B
Economics
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Some states require that unions represent non-union workers who don't pay dues in their collective bargaining negotiations
Explain using economic logic how this might result in fewer unions than would otherwise be the case if these types of laws did not exist.
Economics
Figure 9-1
In , which of the following correctly labels the curves in the aggregate demand/aggregate supply model?
a.
(1) is LRAS, (2) is SRAS, and (3) is AD.
b.
(1) is SRAS, (2) is LRAS, and (3) is AD.
c.
(1) is AD, (2) is SRAS, and (3) is LRAS.
d.
(1) is LRAS, (2) is AD, and (3) is SRAS.
Economics