Refer to Figure 10.3. What price will the monopsonist pay when maximizing profit?
A) P1
B) P2
C) P3
D) P4
E) P5
E
You might also like to view...
A constant-elasticity demand function can be obtained by:
A) taking the logarithm of the dependent variable only. B) taking the logarithm of the independent variable(s) only. C) taking the logarithm of the dependent and independent variable(s). D) taking the reciprocal of the dependent variable(s).
In the U.S. a digital camera costs $200 . The same camera in London sells for 90 pounds. If the exchange rate were .50 pounds per dollar, then which of the following would be correct?
a. The real exchange rate is greater than 1 . A person in London with $200 could exchange them for pounds and have more than enough to buy the camera there. b. The real exchange rate is greater than 1 . A person in London with $200 could exchange them for pounds but then wouldn't have enough to buy the camera there. c. The real exchange rate is less than 1 . A person in London with $200 could exchange them for pounds and have more than enough to buy the camera there. d. The real exchange rate is less than 1 . A person in London with $200 could exchange them for pounds but then wouldn't have enough to buy the camera.
Which of the following situations generally exists when deflation occurs?
A) Inflation and unemployment are both increasing. B) Inflation and unemployment are both decreasing. C) The price level is decreasing. D) The rate of inflation is falling from, for example, 10% to 3%. E) The natural rate of unemployment is zero.
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. During Period 3, labor productivity is equal to
A. 0.22. B. 1.88. C. 3.21. D. 4.5.