In the market for labor, the monopsonist is the sole:
A. buyer and can keep wages up, above the competitive wage.
B. seller and can push wages down, below the competitive wage.
C. buyer and can push wages down, below the competitive wage.
D. seller and can keep wages up, above the competitive wage.
Answer: C
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An increase in second-period income results in
A) an increase in first-period consumption, an increase in second-period consumption, and an increase in saving. B) an increase in first-period consumption, a decrease in second-period consumption, and an increase in saving. C) a decrease in first-period consumption, an increase in second-period consumption, and an increase in saving. D) an increase in first-period consumption, an increase in second-period consumption, and a decrease in saving.
Many theme parks charge an entrance fee and a per-ride fee equal to zero. This is an example of
A) bundling. B) two-part pricing. C) group price discrimination. D) perfect price discrimination.