If a minimum wage is established, a monopsonist faces
A) an upward sloping supply of labor at all quantities of labor.
B) a downward sloping supply of labor at all quantities of labor.
C) a horizontal supply of labor at the minimum wage and the upward sloping portion of the labor supply curve above minimum wage.
D) a horizontal supply of labor at the minimum wage and the downward sloping portion of the labor demand curve below minimum wage.
C
You might also like to view...
Which one of the following statements is true?
a. Resources flow from the government to firms. b. Taxes flow from foreign economies to the government. c. Goods and services flow from households to foreign economies. d. Resources flow from households to firms. e. Resource payments flow from households to the government.
The last $2,000 of Rolanda's wealth adds less to her utility than the previous $2,000 . Based on this information, Rolanda has
a. increasing marginal utility of wealth and is risk averse. b. increasing marginal utility of wealth and is not risk averse. c. decreasing marginal utility of wealth and is risk averse. d. decreasing marginal utility of wealth and is not risk averse.
The major labor market problem in the United States is ________ and in Western Europe the problem is ________.
A. increasing wage inequality; increasing wage inequality B. increasing wage inequality; high persistent unemployment C. high persistent unemployment; low average wages D. high persistent unemployment; increasing wage inequality
The average tariff imposed on dutiable imports in the United States is about _______ percent.
A) 4 B) 12 C) 20 D) 28