A monopsonist is

a. a buyer who faces an upward-sloping supply curve.
b. a buyer who faces a downward-sloping supply curve.
c. a seller who faces an upward-sloping demand curve.
d. a seller who faces a downward-sloping demand curve.


a. a buyer who faces an upward-sloping supply curve.

Economics

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Which of the following actions should be discussed with an attorney before undertaking as the action could be considered legal?

A) an agreement with a customer about the markets in which the customer is allowed to resell the product B) an agreement with a competitor firm not to bid on a contract C) an agreement with a competitor firm submit a low bid on a contract D) an agreement with a competitor firm submit a high bid on a contract

Economics

It is possible that if a monopoly is broken up, the cost of production for that product could increase

a. True b. False Indicate whether the statement is true or false

Economics

In a perfectly competitive market, market prices are determined by:

A. individual consumers. B. the entrepreneur. C. market supply and market demand. D. individual producers.

Economics

____ is the income actually available to the consumers that determines aggregate demand.

A. Nominal income B. Net domestic product C. Income corrected for depreciation D. Disposable income

Economics