The poverty gap and an oligopsony exists

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Reference no: EM131162981

1. An oligopsony exists if

1. Only a few firms produce most of the industry's output.

2. Only a few firms account for most of the industry's employment.

3. Only one firm accounts for most of the industry's employment.

4. There is no buyer concentration in the labor market.

2. The poverty gap is the

1. Shortfall between a household's actual income and the poverty threshold.

2. Percentage of families under the poverty level.

3. Difference between the income of a household in poverty and the average income.

4. Difference between the incomes of the richest and poorest households.

Reference no: EM131162981

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