When workers are paid a wage that is less than their contribution to a monopsonist's revenues
A. they seek part time employment.
B. they file a grievance with their union representative.
C. this is sometimes referred to monopsonistic exploitation.
D. this is sometimes referred to as an incentive.
Answer: C
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The United States
A. has sometimes attained productive efficiency. B. usually attains productive efficiency. C. never attained productive efficiency.
The classical framework is based on which of the following assumptions?
A) many firms in the economy B) no single firm can control prices C) in the long-run the quantity of factors supplied must be equal to the quantity of factors demanded D) all of the above E) none of the above
Suppose the United States imports coffee from Brazil. Which of the following is a likely impact of this trade? a. The owners of the land used to grow coffee in the United States will be worse off
b. The producers of coffee-flavored candies in the United States will face higher costs of production. c. The consumers of coffee in the United States will face a higher market price. d. The workers in coffee plantations in the United States will be better off.
Refer to the following graph. If the price of bagels falls, the budget constraint in the graph will rotate:
A. out and become flatter. B. in and become steeper. C. in and become flatter. D. out and have the same slope.