Which type of market structure contains a single buyer?
a. Monopoly.
b. Monopsony.
c. Oligopoly.
d. Oligopsony.
Ans: b. Monopsony.
You might also like to view...
Data on after-tax income and consumption spending for the Adam Smith family are given below:After-tax IncomeConsumption Spending9,00018,10014,00022,60019,00027,10024,00031,600Based on these data, the Adam Smith family has a marginal propensity to consume equal to:
A. 0.9. B. 0.6. C. 0.75. D. 0.8.
Which of the following is NOT true about the duties the Fed performs for the federal government?
A) The U.S. Treasury has a checking account at the Fed. B) The Federal Reserve aids in the purchase and sale of certain government securities. C) The U.S. Treasury controls the Fed. D) The Federal Reserve is the banker and fiscal agent of the federal government.
A decrease in the tax rate is more likely to increase the standard of living if the income effect of a change in the interest rate is
a. small and an increase in private saving tends to have a small impact on the capital stock. b. small and an increase in private saving tends to have a large impact on the capital stock. c. large and an increase in private saving tends to have a small impact on the capital stock. d. large and an increase in private saving tends to have a large impact on the capital stock.
The profit-maximizing level of output for a monopolist is the one at which marginal revenue equals marginal cost.
Answer the following statement true (T) or false (F)