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Author Question: Product variety and information for consumers are gains from A) perfect competition. B) ... (Read 85 times)

Kthamas

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  • Posts: 546
on: Jun 29, 2018
Product variety and information for consumers are gains from
 
  A) perfect competition.
  B) monopolistic competition.
  C) monopoly.
  D) oligopoly.

Question 2

The above figure shows the market for labor. The employer is a monopsony. If a minimum wage is set at 10 per hour, which of the following will occur?
 
  A) The firm will pay 5 per hour.
  B) The firm will pay 10 per hour.
  C) The firm will pay 15 per hour.
  D) The firm will hire less than 400 hours of labor.


joanwhite

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

B

Answer to Question 2

B


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