Author Question: If a hot dog vendor on a street corner experiences an increase in total revenue after lowering the ... (Read 28 times)

fox · **on:** Jun 29, 2018

If a hot dog vendor on a street corner experiences an increase in total revenue after lowering the price of a hot dog, then the demand for the hot dogs must be elastic.

Indicate whether the statement is true or false

Question 2

The figure above shows a labor market. If there is a monopsony in this labor market, employment is

A) 0 hours per week.
B) 50 hours per week.
C) 100 hours per week.
D) 150 hours per week.