Refer to the graph below for an industry. If the industry operates as a pure monopoly, the output quantity would be:
A. 90
B. 160
C. 195
D. A level that is not labeled in the graph
A. 90
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A draft system, whether in professional sports or the military, enables the people who are hiring to avoid paying their employees
A) a living wage. B) the true value of their labor. C) what others are willing to pay them. D) what they want to be paid.
The employment rate is defined as
A) the percentage of the labor force holding employment. B) the percentage of the noninstitutional population either working currently or looking for work. C) the percentage of the noninstitutional population holding employment. D) the percentage of the population currently receiving wages or salaries. E) the percentage of the population currently working and living principally on earnings from labor.
If the quantity supplied exceeds the quantity demanded, then there is
A) a shortage and the price is below the equilibrium price. B) a shortage and the price is above the equilibrium price. C) a surplus and the price is below the equilibrium price. D) a surplus and the price is above the equilibrium price.
A public good is a good that is both rival and excludable
Indicate whether the statement is true or false