A monopsonist faces a constant elasticity of labor supply of 1.5. If the monopsonist pays $15 per hour, its marginal expenditure equals
A) $15.
B) $25.
C) $7.
D) 25%.
B
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The price of a California orange is $2.00 and the price of a Florida orange is $1.00. If the price of California oranges goes down by one cent and the quantity demanded of Florida oranges goes up by one thousand, then
a. the cross elasticity is 0.4. b. these goods are substitutes. c. the price elasticity of demand for California oranges is 0.4. d. these goods are complements.
What other business disciplines are related to Managerial Economics?
What will be an ideal response?
Considering a given increase in price due to a tax, the less price elastic the demand curve is, the:
A. larger the drop in equilibrium quantity. B. smaller the amount of deadweight loss created. C. larger the amount of deadweight loss created. D. more surplus that is transferred to consumers.
The major coordination tasks can be summarized with the questions
a. who, what, when, where? b. how, what, for whom? c. how, what, why? d. how, why, for whom? e. who, how, what?