Monopsonistic exploitation refers to
A. the payment to a resource equal to MRP.
B. the payment to a resource above MRP.
C. the payment to the resource equal to MFC.
D. the payment to a resource less than MRP.
Answer: D
You might also like to view...
The tragedy of the commons was avoided in the Middle Ages in much the same way economist Elinor Ostrom's research suggested. Which of the following ways reflects Ostrom's findings, and was actually conducted in the middle ages?
A) Common grounds were sold to individuals. B) Local law enforcement monitored entry into the commons. C) There was social pressure to uphold traditionally accepted limits on family. D) The government imposed a tax for the use of the commons.
The aggregate supply curve of an economy: a. is a downward-sloping straight line
b. is an upward-sloping curve. c. is a vertical line parallel to the price axis. d. is a horizontal line parallel to the output axis. e. is a ray from the origin.
A profit-maximizing monopsonist will hire workers at the point where the marginal factor cost curve intersects the
A. Marginal wage curve. B. Marginal revenue product curve. C. Labor supply curve. D. Equilibrium wage.
What is the opportunity cost of economic growth?
a. investment in the current time period b. improved technology in the current time period c. capital goods in the current time period d. consumption in the current time period