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Author Question: The figure above shows a labor market. If there is a monopsony in this labor market, then increasing ... (Read 94 times)

azncindy619

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on: Jun 29, 2018
The figure above shows a labor market. If there is a monopsony in this labor market, then increasing the minimum wage from 3 per hour to 5 per hour
 
  A) will increase the quantity of labor employed.
  B) will leave unchanged the quantity of labor employed.
  C) will decrease the quantity of labor employed.
  D) could increase, decrease, or leave unchanged the quantity of labor employed.

Question 2

If the price of a pumpkin rises and consumers' total expenditure on pumpkins increases, then the demand for pumpkins is inelastic.
 
  Indicate whether the statement is true or false


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jasonq

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

TRUE


azncindy619

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

jojobee318

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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