The supply curve of labor to a monopsonist is
A. downward sloping, but not because of the law of diminishing marginal returns.
B. horizontal.
C. downward sloping because of the law of diminishing marginal returns.
D. upward sloping.
Answer: D
You might also like to view...
Economists know that a particular good can be classified as an inferior good if a(n) ________ in buyers' income causes a(n) ________ .
A) increase; increase in demand B) increase; increase in quantity demanded C) increase; decrease in demand D) decrease; decrease in demand
Figure 3.5 illustrates the supply of tacos. An increase in the supply of tacos is represented by a movement from:
A. point a to point b. B. point c to point b. C. S2 to S1. D. S0 to S1.
Since the 1950s, nonresidential investment has
A. declined. B. not changed. C. decreased substantially. D. changed as we invest more in software and computers than buildings.
If the cross-price elasticity of salt and pepper is positive the goods must be complements.
Answer the following statement true (T) or false (F)