Company towns are often decried as monopsonists. Why was it unlikely that another employer would move into a company town?
A) The marginal workers available in the company town had low marginal revenue product.
B) The existing monopsonist had a first-mover advantage.
C) The marginal workers available in the company town would demand a wage higher than that obtained at the existing monopsonist.
D) Any of the above.
D
You might also like to view...
In 2008 ___________ had the highest annual expenditures on public and private schools per student.
A. Spain B. France C. United States D. Japan
A brand name can affect a firm's
A) price elasticity of demand B) average total cost curve C) normal profit D) balance sheet
U.S. imports are considered:
a. a credit or plus item in the U.S. balance of payments. b. a credit or minus item in the U.S. balance of payments. c. a debit or plus item in the U.S. balance of payments. d. a debit or minus item in the U.S. balance of payments.
Real GDP is a more accurate measure of economic growth than nominal GDP because:
a) Nominal GDP can increase due to an increase in production or prices or both. b) Nominal GDP is a total dollar measurement. c) Nominal GDP only increases because of an increase in production. d) Real GDP is a measurement of the overall price level.