The most common way for workers to hold market power is when:
A. there are a lot of them.
B. they compete for minimum wage.
C. they are unionized.
D. a monopsony exists.
Answer: C
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If the price elasticity of demand (Ep) equals one in the short run, then, other things being equal, in the long run Ep will be
A) one. B) less than one. C) greater than one. D) indeterminate without more information.
A trade deficit involves:
a. net flows of goods from foreign countries to the domestic government. b. net money flows from the foreign firms to the domestic government. c. net money flows from the domestic firms to the domestic government. d. net money flows from the foreign firms to the domestic firms. e. net flows of goods from foreign countries to the domestic firms.
In which market type does one find the most advertising
A) monopolistic competition B) oligopoly C) perfect competition D) monopoly
When a good is non-rivalrous, then there is zero marginal cost to adding an additional user
a. True b. False Indicate whether the statement is true or false