The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 200 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the deadweight loss in the market for coal miners due to the monopsony?
A. $250,000
B. $500,000
C. $125,000
D. $750,000
C. $125,000
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An example of a poverty trap is:
A. the malnourished not having enough energy to develop their economy. B. the uneducated leaving the home country for more opportunities. C. those not having basic immunizations dying more from rare diseases. D. All of these are examples of poverty traps.
Which of the following is a method by which a firm can obtain financial resources to invest in capital?
a. use of retained earnings b. borrowing from financial intermediaries c. selling stocks or bonds d. all of the above
Why is the total profit curve shaped like a hill?
An ordered pair is
a. the process of checking calculations twice before placing them on a graph. b. two numbers that can be represented by a single point on a graph. c. two numbers that are represented by two points on a graph. d. two points on a graph that are of equal distance from the origin.