AGEC 105 Testing your EQ EQ #11 - November 7, 2012 1. The graph depicts the situation for a monopsonist. (0.5pt) (a) What is the name of the unlabeled curve in the diagram? (1pt) (b) For the monopsonist, how much of the input should be used assuming profit maximization and how much should be paid for the corresponding unit? (0.5pt) (c) What is the degree of monopsonistic exploitation? PINPUT ? $3.50 S $2.50 MRP or MVP $2.25 800 1,000 QINPUT

EQ 11 CONTINUED 2. The agency charged with the responsibility of investigating business organizations and practices is ___________________. 3. The _____________ Act of 1922 was the principal legislation exempting cooperatives from anti-trust laws. 4. TRUE or FALSE. Federal marketing orders were created in 1937 by way of the Agricultural Marketing Agreement Act. 5. The _____________ Act of 1914 continues to be instrument in investigating monopoly and other restrictive businesses.