Which of the following is the BEST example of a monopsonist?
A. Hershey's Chocolate Factory in Hershey, PA
B. Vinaka Coffee Shop in Carlsbad, CA
C. a household hiring a gardener
D. a turnip farmer hiring seasonal help
Answer: A
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Which of the following topics is most appropriately studied in a microeconomics course?
A. How the presidential candidates' tax plans might affect economic growth B. Why unemployment is so low and inflation has not accelerated C. The decision by a nurse to change professions D. When the next recession will arrive
Unit banks are:
A. more numerous in the United States than they were in previous decades. B. banks with no branches. C. commercial banks that have combined into one unit with an investment bank. D. no longer permitted to exist in the United States.
Economic income is the sum of consumption and
A. the change in net worth. B. wealth. C. net worth. D. transfer payments.
The price elasticity of demand for a rental home in Luxury Resorts in the summer is 1.25 and is 2.25 in the spring. If Luxury Resorts faces a constant marginal cost of $500 per home rental, what is the profit-maximizing off-peak load price to charge in the spring?
A) $1,250 B) $500 C) $2,500 D) $900