Universities are able to act as monopsonists in the market for professors because
A) a university usually does not consider hiring faculty members from another institution.
B) faculty members usually have to move to a different city when changing universities.
C) students like all of their professors.
D) senior faculty members are willing to move to a new university at any cost.
B
You might also like to view...
The Coase Theorem states that:
a. bargaining between producers and consumers leads to an efficient outcome when costs are low. b. bargaining between producers and consumers leads to an efficient outcome when costs are high. c. property rights should be assigned to the producers causing the externality d. property rights should be divided between the consumers affected by the externality.
When most people talk about believing in equality of income, they mean they believe in equality of:
A. after-tax income for comparably endowed individuals. B. before-tax income for comparably endowed individuals. C. effort for comparably endowed individuals. D. opportunity for comparably endowed individuals.
Cost-push inflation occurs when there is ________________.
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs. B. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs. C. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs. D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.