If Ann's disposable income increases, her saving decreases
Indicate whether the statement is true or false
FALSE
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Refer to the above figure. The monopsonistic exploitation is
A) W2 - W5. B) W1 - W5. C) W2 - W4. D) W2 - W3.
Suppose that for Jason the marginal utility of $50-per-serving caviar is 100 and the marginal utility of $1-per-serving popcorn is 10 . For his snack, Jason should buy
a. the caviar if he has the $50; otherwise the popcorn b. the caviar if he has the $50; otherwise nothing c. the popcorn, whether he has the $50 or not d. one serving each of the caviar and popcorn, if he has $51 e. five servings of popcorn for each serving of caviar
Suppose the baseball card industry is monopolistic. We know then that for the monopolist,
a. price elasticity of demand everywhere along its demand curve is infinite b. price elasticity of demand everywhere along the demand curve is zero c. as price increases, marginal revenue decreases d. as price decreases, marginal revenue decreases e. price equals marginal revenue everywhere along its demand curve
Which of the following would be most likely to cause an increase in the wage rate for a particular job?
a. A decrease in the danger of this job. b. An increase in the number of workers with the skills for this job. c. An increase in the danger of this job. d. An improvement in the working conditions associated with this job. e. A decrease in the amount of training needed to perform this job