A single union that supplies all the labor in a particular market is an example of:
A. a monopoly.
B. an oligopoly.
C. a bilateral monopoly.
D. a monopsony.
Answer: A
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The federal government and insurance companies are examples of third party
A) payers for health care. B) users of health care. C) providers of health care. D) observers of health care.
According to Alfred Marshall, small firms produce a good more efficiently than a monopoly
Indicate whether the statement is true or false
Government provides a nonexcludable public good that the public demands and can't seem to acquire through the market. This is government
A) acting as a transfer mechanism. B) being non-productive. C) engaging in rent-seeking activities. D) being productive. E) a and c
A curve that connects all the consumption combinations that yield the same level of utility is known as
A. a budget line. B. an indifference curve. C. an isoquant. D. a yield curve.