In a bilateral monopoly, the wage rate that is determined in the market
A) is equal to MFC.
B) is equal to MRP.
C) is indeterminate.
D) is the same as in a perfectly competitive market.
Answer: C
You might also like to view...
One of the conclusions of A. C. Pigou was that
a. a system of mandatory controls is the only effective means to control pollution. b. a system of charges can be an effective means to control pollution. c. pollution will wither away if a socialist system is in place. d. pollution cannot be adequately addressed in a price system.
In addition to fiscal policy, the other main tool used to affect aggregate demand is
a. trade policy. b. industrial policy. c. planning policy. d. monetary policy.
A cash gift causes the budget line to:
A. shift to the right in a parallel fashion. B. rotate clockwise. C. shift to the left in a parallel fashion. D. None of the statements is correct.
If consumers become less confident and begin to borrow and spend less, what will happen in the dynamic AD/AS model?
A. The short-run aggregate supply curve will shift downward. B. The long-run aggregate supply curve will shift to the left. C. The aggregate demand curve will shift to the left. D. The aggregate demand curve will shift to the right.