Which of the following is the BEST example of a monopsonist?
A) a household hiring a gardener
B) a turnip farmer hiring seasonal help
C) Hershey's Chocolate Factory in Hershey, PA
D) Vinaka Coffee Shop in Carlsbad, CA
Answer: C
You might also like to view...
Distinguish between the balance of payments and the balance of trade
What will be an ideal response?
The objective of a macro environmental analysis is to:
a. Determine the demand for a new product b. Identify the major markets in which a new product might compete c. Determine the optimum price for a new product d. Identify the relevant demand forces, determine their relation, and predict how they might change in the future
If the world price of coffee is higher than Colombia's domestic price of coffee without trade, then Colombia
a. should import coffee. b. has a comparative advantage in coffee and should export coffee. c. should produce just enough coffee to satisfy domestic demand. d. should produce no coffee domestically.
Which of the following statements is correct?
a. The establishment of property rights sometimes gives rise to market failure. b. The absence of property rights sometimes gives rise to market failure. c. In the context of public goods, the Coase theorem implies that total surplus in some markets can be improved by the elimination of property rights. d. Government regulation of private behavior, in response to market failure, can never improve social well-being.