For a monopsony, the labor supply curve is
A) above the MCL curve.
B) always below the VMP curve.
C) downward sloping.
D) upward sloping.
D
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Assuming all excess reserves are loaned out, if the reserve ratio is 3.33 percent, the money multiplier will be equal to
A) 0.67. B) 3.33. C) 6.67. D) 30.
A resource that is a common property is
A) oil on land owned by a drilling and refining company. B) natural gas on land owned by an energy producer. C) timber on land owned by a lumber company. D) water in a publicly owned river.
The long-run equilibrium condition for perfect competition is:
a. P = AVC = MR = MC. b. P = ATC = MR = MC. c. Q = AVC = MR = MC. d. Q = ATC = MR = MC. e. TR = ATC = MR = MC.
Deregulation of the railroad, airline, and electricity industries has yielded substantial benefits: more competition, lower prices, and improved services.
Answer the following statement true (T) or false (F)