A monopoly's demand curve for labor
A) is below that of a competitive market.
B) is the same as that of a competitive market.
C) is above that of a competitive market.
D) equals p ? MPL.
A
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A market demand curve:
a. is the sum of the demand curves of all the individuals in a particular market. b. is determined by the demand of those who purchase in quantity. c. is always horizontal. d. cannot be estimated. e. never includes demand by the government.
Which of the following statements about the effects of rent control is correct?
a. The short-run effect of rent control is a surplus of apartments, and the long-run effect of rent control is a shortage of apartments. b. The short-run effect of rent control is a relatively small shortage of apartments, and the long-run effect of rent control is a larger shortage of apartments. c. In the long run, rent control leads to a shortage of apartments and an improvement in the quality of available apartments. d. The effects of rent control are very noticeable to the public in the short run because the primary effects of rent control occur very quickly.