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-(Exhibit: Monopoly and Monopsony) in Monopoly, _______ ; in Monopsony

Question 80

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-(Exhibit: Monopoly and Monopsony) In monopoly, _______ ; in monopsony, ________. A) P < MC; factor price < MRP B) the equilibrium price and quantity are P<sub>1</sub> and Q<sub>0</sub>; the equilibrium factor price and quantity are P<sub>1</sub> and FQ<sub>1 </sub> C) price and quantity in equilibrium are P<sub>1</sub> and Q<sub>m </sub>; factor price and quantity in equilibrium are P<sub>0</sub> and FQ<sub>1 </sub> D) P = MC; factor price = MRP
-(Exhibit: Monopoly and Monopsony) In monopoly, _______ ; in monopsony, ________.


A) P < MC; factor price < MRP
B) the equilibrium price and quantity are P1 and Q0; the equilibrium factor price and quantity are P1 and FQ1
C) price and quantity in equilibrium are P1 and Qm ; factor price and quantity in equilibrium are P0 and FQ1
D) P = MC; factor price = MRP

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