In a market where one unit of labor produces one unit of output, consumers prefer
A) a competitive labor market and a monopoly output market.
B) a competitive output market and a monopoly labor market.
C) a monopoly output market and a monopoly labor market.
D) None of the above—they are indifferent between A and B.
D
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One of the risks of maturity transformation is that:
A) it can increase the rate of inflation. B) it reduces the profitability of banks. C) it can lead to bank runs. D) it discourages savings.
Rational inattention refers to ________
A) the risk a firm runs when they do not pay attention to their customers B) firms making infrequent price decisions because of the time and effort those decision require C) the cost to the firm of losing sales from alienating customers D) all of the above E) none of the above
Refer to Figure 9.5. If the government establishes a price floor of $2.50 and farmers grow only the amount of berries that will be sold, producer surplus will
A) fall by $50. B) fall by $100. C) remain the same. D) rise by $50. E) rise by $100.
The region of the U.S. with the highest poverty rate is the Midwest
Indicate whether the statement is true or false