Which of the following would be most able to act like a monopsonist?
A) a hospital in a small isolated town
B) a hospital in a very big city
C) a law firm in Washington, D.C.
D) a computer software firm in Silicon Valley
A
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Which of the following goods will have the most elastic demand at any time?
A. Coffee B. Gasoline C. Restaurant meals D. Insulin
When you think about investments in capital goods, the one category that is most important and, at least in the long run, yields the highest returns is investment in
a. infrastructure b. raw material extraction c. factories d. education and health e. machinery
Describe the market effects of a carbon tax.
What will be an ideal response?
Monopolists differ from perfectly competitive firms
A. on the cost and demand sides of the profit equation. B. on neither the cost nor demand sides of the profit equation. C. on the cost side of the profit equation alone. D. on the demand side of the profit equation alone.