A monopsonist purchaser of labor that could negotiate a different wage for each worker could
A) purchase less labor than a regular monopsonist.
B) purchase more labor than a regular monopsonist.
C) rotate the marginal expenditure curve to the left.
D) shift the marginal expenditure curve to the left.
B
Economics
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The figure above shows Ronald's budget line. He has a weekly income of $20, which he spends on hotdogs and hamburgers. Now Ronald's income decreases to $10 per week and the price of a hotdog doubles
Ronald's budget line becomes ________ and ________. A) flatter; shifts rightward B) flatter; does not shift C) steeper; shifts rightward D) steeper; shifts leftward
Economics
Suppose that M = 300, P = 150, and Y = 6. Then the velocity of circulation equals
A) 0.02. B) 0.50. C) 2.00. D) 3.00.
Economics