The Supply Curve for Portable Charcoal Grills Shifts

question 89

Multiple Choice

The supply curve for portable charcoal grills shifts

• A)only when production technology changes.
• B)when a determinant of the supply of portable charcoal grills other than the price of portable charcoal grills changes.
• C)when any determinant of the supply of portable charcoal grills changes.
• D)only when the number of sellers of portable charcoal grills changes.

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Definitions:

Pure Monopsony Power

A market condition where there is only one buyer for a product or service, giving that buyer significant control over prices.

Strike and Lockout

Labor disputes where employees refuse to work (strike) and employers prevent employees from working (lockout) to settle disagreements, typically over employment terms.

Union Shop

A workplace where new employees must join the union representing them within a certain period of time as a condition of their employment.

Taft-Hartley Act

A 1947 U.S. federal law that restricts the activities and power of labor unions.