Which of the following is FALSE regarding a monopsonist?
A) The monopsonist is the only buyer in a market.
B) The monopsonist faces an upward sloping labor supply curve.
C) The monopsonist faces an upward sloping labor demand curve.
D) The monopsonist faces the entire market labor supply curve.
C
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Railroad construction in the late 19th century:
a. added little to economic fluctuations. b. strongly influenced capital formation. c. caused the three major financial crisis of that era. d. All of the above are correct. e. Only b and c are correct.
Which of the following conditions must be satisfied for price discrimination to be successful?
A. The seller must have a different product for each group of customers B. The seller must be able to identify each customer as having a high or low value C. The seller must be able to prevent arbitrage between the two groups D. None of these
The U.S. desire for foreign currency represents
A. A point of disequilibrium in the foreign exchange market. B. A supply of U.S. dollars. C. A demand for U.S. dollars. D. The foreign demand for U.S. exports.
Given the following information, we can infer that aggregate income equals:Profits$100Rent$150Compensation to employees$500Interest$150Taxes$100Transfer payments$50
A. $700. B. $950. C. $900. D. $750.