Which of the following is the BEST example of a monopsonist?
A) a household hiring a gardener
B) a turnip farmer hiring seasonal help
C) Hershey's Chocolate Factory in Hershey, PA
D) Vinaka Coffee Shop in Carlsbad, CA
C
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The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. How much consumer surplus is lost?
A) $10,000 B) $20,000 C) $25,000 D) $40,000
An increase in the amount of resources would shift the long-run aggregate supply curve:
A) rightward. B) leftward. C) no shift. D) none of the above.
Historical evidence shows that the relationship between interest rates and investment is
A) indeterminable. B) positive. C) negative. D) None of the above.
A monopolist's supply curve is the portion of its marginal cost curve above average variable cost
a. True b. False