Relative to a competitive labor market, monopsony
A) is also efficient.
B) creates a deadweight loss because it pays an excessive wage.
C) creates a deadweight loss because the wage is below the marginal revenue product of labor.
D) creates a deadweight loss because the wage is above the marginal revenue product of labor.
C
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At outputs less than the minimum of average variable cost:
a. marginal cost is greater than average variable cost. b. marginal cost is less than average variable cost. c. marginal cost is equal to average variable cost. d. marginal cost is parallel to average variable cost.
The largest efficiency gains from deregulation have occurred in the:
A. natural gas and cable television industries. B. cable television and railroad industries. C. communications and stock-brokering industries. D. airlines, trucking, and railroad industries.
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. Under monopoly, the level of electricity production is ________ megawatts.
A. 500 B. 600 C. 800 D. 1200
If an economy tried to use bananas as money, which function would bananas likely have the most difficult time fulfilling?
A) a store of value B) a unit of account C) a medium of exchange D) a means of payment