A profit-maximizing monopsonist
A. hires fewer workers and pays its workers less than it would if it were operating in a competitive labor market.
B. hires more minority workers than nonminority workers, but pays the minority workers less than the nonminorities.
C. pays the same wage to all types of labor.
D. substitutes low-skilled labor for high-skilled labor in the long run.
E. hires an equal number of male and female workers and pays them the same wage.
Answer: A
You might also like to view...
U.S. imports and exports both fell during the first quarter of 2009. The value of these imports and exports would be reflected in the United States
A) capital account. B) current account. C) exchange rate account. D) financial account.
As foreign investors began to sell off investments they had made in Thailand, they traded in their baht for dollars. The result of this was
A) pressure for the value of the baht to rise. B) an increase in the equilibrium value of the baht. C) pressure for the value of the baht to decline. D) a decrease in the supply of the baht in foreign exchange markets.
Suppose you can fly from LA to New York, and 15 separate airlines provide the service. This market would be described by
A. oligopoly. B. monopolistic competition. C. limited competition. D. monopoly.
When the U.S. exchange rate rises, the trade deficit will:
A. be balanced by an increase in net exports. B. remain unaffected. C. usually rise, too. D. usually fall.