Refer to the below graph. If a monopsonist bargains with an inclusive union, as shown, the wage rate will be:
A. Wc
B. Wu
C. Wm
D. Indeterminate in the graph
D. Indeterminate in the graph
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The market for General Motors' bonds
a. exists only within the geographical boundaries of the United States b. is not defined by its geographic location c. is at the New York Stock Exchange d. is at the U.S. Treasury e. is in London, England
When a certain nation abandoned a policy of prohibiting international trade in automobiles in favor of a free-tree policy, the result was that the country began to import automobiles. The change in policy improved the well-being of that nation in the sense that
a. both producers of automobiles and consumers of automobiles in that nation became better off as a result. b. the gains to automobile producers in that nation exceeded the losses of the automobile consumers in that nation. c. the gains to automobile consumers in that nation exceeded the losses of the automobile producers in that nation. d. even though total surplus in that nation decreased, it was still true that consumer surplus and producer surplus increased.
Suppose that the demand for digital streaming devices increases significantly. Which of the following questions would a normative analysis answer?
a. Will a change in price affect the increase in demand? b. Will the increase in demand continue? c. How much should we increase our supply of these devices? d. What will be the likely percent increase in demand next month?
Recall the Application about choosing a price for drones based on a linear demand curve to answer the following question(s).Recall the Application. Suppose a firm that produces drones has a linear demand curve for its product, with a vertical intercept of $1,500. If the firm does not want the demand for its product to be price-inelastic, the minimum price it should charge is:
A. $500. B. $750. C. $1,000. D. $1,500.