A monopsonist in the labor market has
A) a perfectly elastic labor supply.
B) a decreasing average variable cost.
C) an upward sloping labor supply curve.
D) a downward sloping marginal revenue product curve.
Answer: C
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Purchasing a season pass to the local symphony
A) is an example of first degree price discrimination. B) is an example of second degree price discrimination. C) is an example of third degree price discrimination. D) All of the above.
Suppose policy makers are concerned about a shortage of long-term capital investment. To remedy the problem, various plans to cut capital gains taxes have been suggested. The delay in picking a plan is called the _____
a. implementation lag b. policy coordination problem c. decision-making lag d. recognition lag e. effectiveness lag
Merely demonstrating that wages are lower for blacks and females does not in itself prove wage discrimination
a. True b. False Indicate whether the statement is true or false
How are the domestic sellers and buyers of a good affected if a country starts importing the good?
What will be an ideal response?