The figure above shows a labor market. If there is a monopsony in this labor market, employment is
A) 0 hours per week.
B) 50 hours per week.
C) 100 hours per week.
D) 150 hours per week.
B
You might also like to view...
What are the four functions of money? Can something be considered money if it does not fulfill all four functions?
What will be an ideal response?
In the long run, the Phillips curve is a ________ at ________
A) horizontal line; 0% inflation B) vertical line; the natural rate of unemployment C) vertical line; the expected rate of inflation D) negatively sloped line; the intersection of aggregate demand and short-run aggregate supply
Resources
What will be an ideal response?
Which of the following is NOT a characteristic of the demand curve faced by a firm in a monopolistically competitive market?
A) The demand curve is downward sloping. B) The slope of the demand curve is negative. C) The firm will produce where the demand curve is inelastic. D) The firm will produce where the demand curve is elastic.