In a monopsonistic market
A) employment is lower but wages are higher than in a comparable competitive market.
B) employment is higher but wages are lower than in a comparable competitive market.
C) both employment and wages are higher than in a comparable competitive market.
D) both employment and wages are lower than in a comparable competitive market.
D
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Consider the same monopoly situation as in the previous question. The monopoly price is
a. 8 b. 46 c. 54 d. 92
If consumer tastes are changing more in favor of the consumption of a particular good the:
a. market demand curve will shift to the left. b. consumer will move up a given demand curve, decreasing the quantity demanded. c. consumer would move down a given demand curve, decreasing the quantity demanded. d. consumer would move down a given demand curve, increasing the quantity demanded. e. market demand curve would shift to the right.