In a bilateral monopoly, the wage rate is likely to be ________ than the value of marginal product of labor and ________ than in a pure monopsony
A) lower; lower
B) lower; higher
C) higher; lower
D) higher; higher
B
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Explain what increases in the price of oil have done to the exploration and extraction of oil from more costly sources of oil. What are some of these more costly sources of oil, and what happens to the quantity of proven oil reserves?
What will be an ideal response?
The role of the costs of capital is influenced by the degree to which firms can substitute capital for other inputs of production known as relative prices
Indicate whether the statement is true or false
Refer to the graph below. The solid kinked demand curve would most likely be observed by a firm operating within
a. perfect competition.
b. pure monopoly.
c. an oligopoly.
d. monopolistic competition.
The CEO of Always Round Tires has decided to open a battery division. He thinks that batteries would sell well with tires at their outlets and that Always Round's quality reputation will be transferred to the batteries. Should he set up the new division as a Revenue Center, as a Profit Center, or as an Investment Center? Why?
What will be an ideal response?