A monopsonist will hire fewer workers than will be hired in a competitive labor market

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound once international trade occurs, the production of cherries in the United States will equal

A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.

Economics

In the United States, the money for loans to businesses comes mainly from

A. corporate profits. B. the federal government. C. savings held in lending institutions. D. state and local governments.

Economics

An effective price ceiling will be set above the equilibrium price.

Answer the following statement true (T) or false (F)

Economics

Compared with a firm in a perfectly competitive market, the demand curve faced by a monopolistically competitive firm is

A) more elastic. B) more inelastic. C) perfectly elastic. D) perfectly inelastic.

Economics