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Author Question: The price of services at Urban General falls by 10 percent. a. Quantity demanded at Urban General ... (Read 127 times)

cookcarl

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on: Jul 1, 2018
The price of services at Urban General falls by 10 percent.
 a. Quantity demanded at Urban General increases by 15.0 percent.
  b. Quantity demanded at Urban General increases by 1.5 percent.
  c. Quantity demanded at St.Elsewhere rises by 3.5 percent.
  d. Quantity demanded at St.Elsewhere falls by 5.0 percent.
  e. Quantity demanded at Urban General rises by 5.0 percent.

Question 2

If a firm is a monopsonistic hirer of labor:
 a. its marginal expense for labor is greater than the market wage.
  b. its marginal expense for labor is equal to the market wage.
  c. its marginal expense for labor is less than the market wage.
  d. it is a price taker in the labor market.


mceravolo

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

B

Answer to Question 2

a


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