A monopsony will:
a. hire more workers than a competitive employer.
b. pay a higher wage than a competitive employer.
c. employ a quantity of labor where the marginal revenue product equals the marginal factor cost.
d. all of these.
c
You might also like to view...
Refer to the figure above. What is the maximum possible social surplus?
A) $100 B) $150 C) $225 D) $375
One way to estimate GDP is to:
A. add together the market value of only final goods sold in the economy and not services. B. measure the total expenditure of an economy. C. add together the market value of only final services sold in the economy. D. add up all the money people spend buying final and intermediate goods and services.
Overall, rapid economic growth between 1981 and 2012 has ______ the global poverty rate from __________________.
A. increased; below 20 percent to above 44 percent B. decreased; above 30 percent to below 15 percent C. decreased; above 44 percent to 12.7 percent D. increased; below 12.7 percent to above 25 percent
A Lorenz curve that is perfectly straight indicates
A) that society is very rich. B) that a small portion of the population accounts for most of the income. C) that a large portion of the population accounts for most of the income. D) complete income equality.