Which of the following is FALSE regarding a monopsonist?
A. The monopsonist faces the entire market labor supply curve.
B. The monopsonist faces an upward sloping labor supply curve.
C. The monopsonist is the only buyer in a market.
D. The monopsonist faces an upward sloping labor demand curve.
Answer: D
You might also like to view...
You should invest in a project if the cost you incur today is greater than the present value of the future payments from the project
Indicate whether the statement is true or false
If a bank keeps some of its excess reserves, the money multiplier:
A. increases. B. stays the same. C. goes to zero. D. decreases.
Canadian exports involve an:
A. outflow of foreign currencies from Canada to foreigners. B. inflow of foreign currencies from foreigners to Canada. C. outflow of Canadian dollars from Canada to foreigners. D. inflow of Canadian dollars from foreigners to Canada.
The ________ of labor in a perfectly competitive labor market is the market wage rate.
A. marginal revenue from a unit B. marginal cost of a unit C. supply D. total cost