For a monopsonist, the supply of labor facing the firm is:
A. an insignificant portion of the market supply.
B. perfectly horizontal.
C. identical to the supply curve facing the market.
D. the summation of each firm's demand for labor.
Answer: C
You might also like to view...
The Keynesian portion of the short-run aggregate supply (SRAS) curve implies
A) a downward slope. B) no price level changes. C) flexible prices and wages. D) an upward slope.
A _____ generally has less understanding of the firm than a manager and has little knowledge that is likely to improve the quality of the manager's choices
a. specialized residual claimant b. diversified residual claimant c. diversified hierarchy d. specialized hierarchy
Civil law provides business with more certainty because it is based on precedent
a. True b. False
Automatic stabilizers
A. are programs which require legislative action. B. are changes in federal corporate and personal income taxes. C. affect national income, the unemployment rate, and other measures of macroeconomic activity. D. only work during economic contractions.