Monopsonists tend to exploit the resources as they are the sole employers of the resources.
a. True
b. False
Indicate whether the statement is true or false
Question 2
If a 1 percent change in the price of a good causes a 1 percent change in the quantity demanded of that good, then the demand is said to be:
a. perfectly elastic.
b. income elastic.
c. unit-elastic.
d. inelastic.
e. perfectly inelastic.
