With a monopsony in the labor market, a union can often raise wages and the number of workers hired
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
If the short run elasticity of demand for widgets is 0.4 and the long run elasticity of demand for widgets is 0.95, an increase in price will ____ total revenue in the short run and ____ total revenue in the long run. a. Increase; increase
b. Increase; decrease. c. Decrease; increase. d. Decrease; decrease.
Which statement is true?
A. The psychological theory of business cycles is an exogenous theory. B. All business cycle theories are exogenous. C. The war theory is an endogenous business cycle theory. D. The monetary theory is an endogenous business cycle theory.
Curly just graduated from State U and has three job offers: teaching at a prestigious private high school nine months a year with summers off, working forty hours a week at a bank in a small city, and working more than sixty hours a week for a high-powered investment firm in New York. The annual salary for each of these offers is probably:
A. lowest at the high school, in the middle at the investment firm, and highest at the bank. B. lowest at the bank, in the middle at the investment firm, and highest at the high school. C. lowest at the investment firm, in the middle at the bank, and highest at the high school. D. lowest at the high school, in the middle at the bank, and highest at the investment firm.
Refer to the graph below for a profit-maximizing monopolist. The firm will set its price at:
A. 0J
B. 0G
C. 0K
D. 0H