In a factor market characterized by monopsony, the supply of the factor to an individual firm...
In a factor market characterized by monopsony, the supply of the factor to an individual firm is:
Group of answer choices
a. vertical.
b. upward sloping.
c. downward sloping.
d. horizontal.
Homework Answers
Ans) the correct option is b) upward sloping
The factor supply curve for a monopsonist is upward sloping. In a monopsony there is only single buyer.
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In a factor market characterized by monopsony, the supply of the
factor to an individual firm...
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The long-run market supply curve is
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C. horizontal at the market price.
D. upward sloping.
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Question 18 2 pts The marginal revenue received by a firm in a perfectly competitive market: O is greater than the market price. O is equal to its average revenue. increases with the quantity of output sold. is less than the market price. Question 20 2 pts An individual firm in a perfectly competitive industry faces a demand curve with O unit elasticity O elasticity greater than zero but less than one. zero elasticity infinite elasticity Question 21...
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