Which of the following firms is the closest to being a perfectly competitive firm?
a. a hot dog vendor in New York
b. Microsoft Corporation
c. Ford Motor Company
d. the campus bookstore
a
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The U.S. federal debt as a percentage of GDP is currently on the rise
a. True b. False Indicate whether the statement is true or false
Terry wants to sell his car and the lowest price he is willing to accept is $3,000 . Alice likes the car and is willing to pay at most $4,000 for it. What is the headroom for them?
a. Prices up to $1,000 b. Price range between $3,000 and $4,000 c. Prices above $4,000 d. Prices below $3,000
According to the following graphs, what is X1?
The price of Y is $15 per unit.
A. 20 B. 12 C. 10 D. 18 E. none of the above
Which of the following is not correct?
A. Other things equal, a monopsonist will pay a lower wage rate than will a firm hiring labor competitively. B. A monopsonistic employer will pay workers a wage rate equal to their MRP. C. A purely competitive seller will pay workers a wage rate equal to their MRP. D. An imperfectly competitive seller will employ additional workers as long as the MRP of additional workers exceeds their MRC.