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Author Question: What is the cumulative effect of a simultaneous increase in area income of 5 percent and a 10 ... (Read 82 times)

nummyann

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on: Jul 1, 2018
What is the cumulative effect of a simultaneous increase in area income of 5 percent and a 10 percent increase in prices at Urban General?
 a. Quantity demanded at Urban General falls by 4 percent.
  b. Quantity demanded at Urban General rises by 4 percent.
  c. Quantity demanded at Urban General rises by 1 percent.
  d. Quantity demanded at Urban General falls by 1 percent.
  e. Quantity demanded at Urban General does not change.

Question 2

A price discriminating monopsonist could increase its profits by:
 a. paying the minimum wages possible.
  b. hiring as little capital as possible.
  c. paying lower wages to workers with inelastic supply of labor curves than to workers with elastic curves.
  d. paying lower wages to workers with elastic supply of labor curves than to workers with inelastic curves.


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fdliggud

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

c


nummyann

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Reply #2 on: Jul 1, 2018
Thank you


fdliggud

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Reply #3 on: Jul 1, 2018
No problemo


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