In economics, a negotiator who hopes to get an unusually large amount of money for land by refusing to come to terms is called a(n)
A) entrepreneur.
B) lobbyist.
C) holdout.
D) socialist.
C
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How does the liquidity approach to measuring the money supply differ from the transaction approach?
What will be an ideal response?
Explain the difference between an open economy and a closed economy
What will be an ideal response?
For a good whose production creates an external cost, the efficient quantity of output is
A) where the market demand curve and the market supply curve intersect. B) where the marginal social cost curve and marginal benefit curve intersect. C) as low as possible. D) zero. E) the amount of production so that the marginal social benefit exceeds the marginal social cost by as much as possible.
Refer to Figure 4-4. What is the value of the deadweight loss at a price of $18?
A) $100 B) $180 C) $660 D) $1,040