The degree of monopsony power that a firm enjoys is determined by
A) elasticity of market demand, elasticity of market supply, and number of buyers in the market.
B) elasticity of market supply, number of buyers in the market, and how buyers interact.
C) number of buyers in the market, how buyers interact, and number of sellers of the resource.
D) how buyers interact, number of sellers of the resource, and elasticity of market demand.
B
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"The aggregate demand multiplier results in the aggregate demand curve shifting by more than any given initial change in expenditure." Is the previous statement correct or incorrect?
What will be an ideal response?
The United States imports t-shirts because
A) it is a dangerous job to produce them. B) the United States has a lower opportunity cost of production. C) the United States must import goods and services from other countries so that they can develop economically. D) foreign economies have an absolute advantage in their production. E) foreign nations have a lower opportunity cost of production.
Under normal circumstances, the ratio of a country's export prices to its import prices should
a. increase as trade increases b. decrease as trade increases c. fluctuate as trade increases d. remain constant as trade increases e. none of the above
Things that cause the demand to shift?
What will be an ideal response?