If a town has a monopsony, this means
a. there is only one employer
b. price discrimination takes place
c. goods are priced too high
d. no unions can exist
e. excess profits are being made
A
You might also like to view...
A nation's average annual real GDP growth rate is 6%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is
A. 15 years. B. 12 years. C. 20 years. D. 17 years.
A monetary system is preferable over the barter system because it
A) is easier to track by the government. B) limits cash leakages. C) reduces transaction costs. D) is determined by the Congress.
Points outside the production possibilities frontier illustrate production points that cannot be attained
Indicate whether the statement is true or false
When an item being auctioned has correlated values and bidders use their optimal strategies, a(n) ________ auction has the highest expected revenue as it has the ________ reduction in bidders' valuations.
A) English; smallest B) Dutch; smallest C) Dutch; largest D) English; greatest