Monopolization of both the labor market and the output market results in
A) higher wages than when both are competitive.
B) a higher output price than when both are competitive.
C) a lower level of output than when both are competitive.
D) All of the above.
D
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Misty spends her entire weekly allowance of $15 on two goods: T-shirts (which cost $10 each) and lipstick (which costs $5)
What is the opportunity cost of a T-shirt? If her parents raise her allowance to $20 per week, what happens to the opportunity cost of a T-shirt?
Suppose that short-term real interest rates fall in Japan. Is this likely to be good news or bad news for the tourism industry in Hawaii?
What will be an ideal response?
Most government purchases are made at the federal level and not at the state level
a. True b. False Indicate whether the statement is true or false
An increase in labor force participation will increase output and living standards at the cost of
a. higher taxes b. higher interest rates c. longer work weeks d. foregone leisure time e. higher exports