________: a market structure that has only one firm buying from sellers
Fill in the blank(s) with correct word
Monopsony
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In a situation where an artist is selling his own work to the galleries, the principle is
a. The artist b. The gallery c. Both of the above d. None of the above
Which of the following people would be counted among the unemployed?
a. A new college graduate selling newspaper advertisements part time while looking for other work b. A new college graduate selling newspaper advertisements full time while looking for other work c. A new college graduate selling newspaper advertisements part time and not looking for other work d. A new college graduate who gets tired of selling newspaper advertisements and takes off on a motorcycle trip to Alaska e. A new college graduate not qualified for any of the jobs available in his small town
A firm that exits its market has to pay
a. its variable costs but not its fixed costs. b. its fixed costs but not its variable costs. c. both its variable costs and its fixed costs. d. neither its variable costs nor its fixed costs.
Explain the capture hypothesis.
What will be an ideal response?