If a firm is a monopsonistic hirer of labor,
a. its marginal expense for labor is greater than the market wage.
b. its marginal expense for labor is equal to the market wage.
c. its marginal expense for labor is less than the market wage.
d. it is a price taker in the labor market.
a
You might also like to view...
Which of the following is the largest source of revenue for the U.S. federal government?
A) sales taxes B) the individual income tax C) social insurance taxes D) property taxes
All of the following are required to make a tying arrangement vulnerable to antitrust prosecution except which one?
A) There must be at least two products involved. B) There must be proof of an actual tie between two products. C) There cannot be proof of an actual tie between two products. D) The seller must have substantial market power in the market for the tying product.
The high-income nations of the world—including the United States, Canada, the Western European countries, and Japan—typically have GDP per capita in the range of _____________.
a. $6,000 to $12,000 b. $20,000 to $50,000 d. $60,000 to $80,000 d. $80,000 to $120,000
Building roads, power generators, and irrigation systems are projects that are referred to as
A. human capital. B. social overhead capital. C. physical capital. D. financial capital.