The marginal expenditure of a monopsonist is $4. The wage it currently pays is $3. The labor supply curve has a constant elasticity. What is the elasticity of the labor supply?
A) 0.33
B) 0.66
C) 1
D) 3
A
You might also like to view...
If you kept your money under your mattress rather than keeping it in a savings account at your local bank,
A. you would not incur an opportunity cost. B. the opportunity cost of such an action would be the forgone interest of not putting the money in a savings account. C. the opportunity cost of such an action would be the gas money it took to drive to the bank. D. None of the choices are true.
Shifts in the IS curve ________ the AD curve, and changes to the reaction function ________ the AD curve
A) cause a movement along; shift B) shift; cause a movement along C) temporarily shift; permanently shift D) permanently shift; temporarily shift
Suppose a study showed that as the income of doctors increased, doctors spent more time on the golf course and less in the office. What would such a conclusion say about the relative sizes of substitution and income effects?
Briefly discuss Section 301 of the Trade Act of 1974, along with its use in 2017-2018.
What will be an ideal response?