All of the following are true for a monopsonist except
A. The demand for labor is the same as the marginal revenue product of labor.
B. The derived demand for labor is downward-sloping.
C. The market demand for labor is upward-sloping.
D. The marginal factor cost for labor exceeds the wage rate.
Answer: C
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The Monetarist model differs from the classical model in that
a. changes in aggregate demand, not aggregate supply, drive changes in output. b. changes in the money supply drive changes in inflation inflation. c. changes in aggregate supply, not aggregate demand, drive changes in ouput. d. money demand is not always stable. e. none of the above.
If your income is $50,000 . your income tax liability is $10,000 . and you paid $0.25 in taxes on the last dollar you earned, your
a. marginal tax rate is 20 percent. b. average tax rate is 5 percent. c. marginal tax rate is 25 percent. d. average tax rate is 25 percent.
Explain the relationship between the minimum wage and the unemployment rate for teenagers.
What will be an ideal response?
Refer to the above graph. What combination would most likely cause a shift from AD 1 to AD 3?
An increase in taxes and an increase in government spending A decrease in taxes and a decrease in government spending An increase in taxes and a decrease in government spending A decrease in taxes and an increase in government spending