1. In the bilateral monopoly the negotiation range is $____ to $_____ A. $700 ,
ID: 1143874 • Letter: 1
Question
1. In the bilateral monopoly the negotiation range is $____ to $_____ A. $700 , $600 B. $800 , $200 C. $600 , $500 D. $700 , $3002. In the perfectly competitive model the deadweight loss is A. $0 B. $400 C. $1,250 D. $1,050
3. In the monopsonistic model the consumer surplus is A. $1,650 B. $400 C. $1,250 D. $0
4. Compared to perfect competition, the monopsony employees ____ fewer players A. 7 B. 2 C. 5 D. 3
5. Compared to the perfectly competitive model the producer surplus is in the monopsonist model is smaller by A. $450 B. $1,250 C. $800 D. $0
Instructions There are 2 initial diagrams, the left one represents bilateral monopoly, the right a monopsony. Click the graph image or click here to bring up a template on which to draw a graph to respond to the questions in this quiz Monopsony Outcome: Before Arbitration Bilateral Monopoly ME ME 90 300 10 100 1 2 3 456 789 Select the File/Copy commands in Google to make a copy of the graph in your Google Drive Account, thien follow the below instructions to complete the graph: 1. in the right hand diagram represent a monopsony equilibrium outcome. 2·in the left hand diagram represent a bilateral monopoly outcome.
Explanation / Answer
700',300. Defined by supply curve and demand curve at intersection of Me and Demand curve
2 0.here Demand=supply
3 C =1/2 multiplied by 500 further multiplied by 2.
5 producer surplus= is also1250
Can answer only 4 parts according to chegg policy. Please send other parts as separate question
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.