Which of the following is FALSE regarding bilateral monopoly?
A. The price outcome is easily determined.
B. Bilateral monopoly is defined as a market structure in which a single buyer faces a single seller.
C. An example of bilateral monopoly is a state education employer facing a single teachers' union in the labor market.
D. Bilateral monopoly is a market structure consisting of a monopolist and a monopsonist.
Answer: A
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Larry Lawnlover is trying to decide whether it would be more efficient to trim his lawn with a hand-operated clipper or to buy and use an electrically operated weed-trimmer
Which of the items below will help determine the more efficient choice for Larry? A) Larry's dislike for the noise created by power tools B) Larry's fear of being injured while using power tools C) The sensitive skin on Larry's hand, which causes him to develop, blisters easily D) All of the above. E) None of the above.
Property rights often remain poorly defined because of _____
a. difficulty enforcing ownership once defined b. government fiat c. strong incentives towards the status quo d. monopolies
The interest rate will _____ and the quantity of loanable funds invested will _____ when the government decreases the budget deficit
Fill in the blank(s) with correct word
Laura says that the present value of $700 to be received one year from today if the interest rate is 6 percent is less than the present value of $700 to be received two years from today if the interest rate is 3 percent. Cassie says that $700 saved for one year at 6 percent interest has a smaller future value than $700 saved for two years at 3 percent interest
a. Both Laura and Cassie are correct. b. Both Laura and Cassie are incorrect. c. Only Laura is correct. d. Only Cassie is correct.