A monopsonist is currently employing 50 workers at $10 an hour. It wants to hire an additional worker, but will have to pay the worker $10.10. The marginal factor cost is
A) ten cents.
B) $10.00.
C) $10.10.
D) $15.10.
D
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An economics-based reason for unemployment is that people are who are unemployed are:
a. inherently lazy and have no desire to work. b. unable to remain employed for a long period of time. c. not willing to work at the current equilibrium wage. d. evolving and seeking to be more spiritual.
A change in the price of one good results in a rotation of the budget line, so that it is steeper or flatter
a. True b. False Indicate whether the statement is true or false
A closed shop is a
A) strike by a union in sympathy with another union's strike or cause. B) dispute involving two or more unions over which should have control of a particular jurisdiction. C) business enterprise in which employees must belong to the union before they can be hired and must remain in the union after they are hired. D) legal environment in which businesses may hire nonunion members conditional on their joining the union by some specified date after employment begins.
The shut-down decision is a short-run decision.
Answer the following statement true (T) or false (F)