A firm that is a monopolist in the output market and a monopsonist in the input market
A) will hire the same amount of labor as if perfect competition prevailed in both markets, but pay a lower wage.
B) will restrict the level of output but not that of employment compared to the perfectly competitive case.
C) will hire less labor but pay the same wage compared to the perfectly competitive case.
D) will hire less labor and pay a lower wage compared to the perfectly competitive case.
Answer: D
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The Federal Reserve District bank charged with buying and selling United States government securities is the __________ Bank.
Fill in the blank(s) with the appropriate word(s).
When there is a positive externality in a free market, too much of the good is produced and consumed
Indicate whether the statement is true or false
As of October 2012, the amount of money as measured by M2 was about
A) $880 billion. B) $1700 billion. C) $10.2 trillion. D) $14 trillion.
Other things the same, a fall in an economy's overall level of prices tends to
a. raise both the quantity demanded and supplied of goods and services. b. raise the quantity demanded of goods and services, but lower the quantity supplied. c. lower the quantity demanded of goods and services, but raise the quantity supplied. d. lower both the quantity demanded and the quantity supplied of goods and services.