17 The labor supply curve facing a monopsonist is: Group of answer choices downward sloping. upward sloping. a horizontal line. backward bending. a vertical line. 2, A monopsony hires labor up to the point where the marginal revenue product of labor equals the wage rate. Group of answer choices True False 3 Exhibit 11-3 Labor supply curve In Exhibit 113, the wage for the 6th employee is equal to: Group of answer choices $18. $36. $3. $108. unable to determine with this information. 4, The demand curve for labor of CocaeCola manufactu rers will not shift to the right if: Group of answer choices d and e. the price of CocaCola increases. the firms innovate with new technology that raises labor productivity. the price of Pepsi decreases. CocaCola workers become unionized. 5 An increase in total spending in the economy will shift the aggregate demand curve to the left. Group of answer choices True False 6 Which of the following is a range on the eclectic or general view of the aggregate supply curve? Group of answer choices Keynesian range. Intermediaterange. Classical range. All of these. 7 Overconsumption of a product can be caused by imperfect information. Group of answer choices True False 8 Price discrimination that substantially lessens competition is prohibited by the Clayton Act. Group of answer choices True False 9 The RobinsonPatman Act strengthened the merger provisions of the Sherman Antitrust Act. Group of answer choices True False