Which of the following is not true about a monopsonist?
a. It can set the wage rate and hire any desired number of workers at that wage.
b. It is the only buyer of labor in a market.
c. It usually extracts rents from its monopsony power.
d. It determines the optimal employment-wage rate combination by equating the marginal revenue product of labor to the marginal cost of labor.
e. It usually has to bargain with unionized workers.
a
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The Clayton Act of 1914 prohibits ________ if it substantially lessens competition or creates a monopoly
A) people from serving on the board of directors of competing firms B) contracts that force other goods to be bought from the same firm C) both of the above D) neither of the above
The dominance of banks in Germany comes at the expense of __________ markets there
A) securities B) government bond C) consumer borrowing D) foreign exchange
Which type of tax is used to finance the Social Security program in the United States?
a. consumption tax b. income tax c. payroll tax d. property tax
You are thinking about traveling to visit friends in Portland. You can fly or take the bus. A ROUND-TRIP plane ticket costs $300, and it takes three hours to get from your house to your friend's house if you fly. A ROUND-TRIP bus ticket costs $150 and it takes 10 hours to get door-to-door using the bus.What is the minimum value of your time necessary to induce you to buy the plane ticket instead of taking the bus?
What will be an ideal response?