Refer to the above figure. The monopsonistic exploitation is
A. W2 - W5.
B. W1 - W5.
C. W2 - W4.
D. W2 - W3.
Answer: B
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An increase in the price level ________ the aggregate quantity supplied and ________ the aggregate quantity demanded
A) increases; decreases B) does not change; decreases C) decreases; increases D) decreases; decreases E) increases; increases
Suppose that Emily opens a restaurant. She receives a loan from a bank for $200,000 . She withdraws $100,000 from her personal savings account. The interest rate on the loan is 6%, and the interest rate on her savings account is 2%. Emily's annual implicit cost of capital is
a. $2,000. b. $4,000. c. $12,000. d. $14,000.
The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A) Herfindahl-Hirschman Index. B) concentration ratio. C) producer price index. D) payoff matrix.
A downward-sloping demand curve can be derived for a normal product by increasing its price in the consumer-behavior model and noting
A) the increase in the utility-maximizing quantity of that product demanded. B) the decrease in the utility-maximizing quantity of that product demanded. C) a substitution effect that encourages more consumption of that product. D) an income effect that encourages more consumption of that product.