As compared to a firm that competes for labor, a monopsony will:
a. hire fewer workers and pay lower wages.
b. hire fewer workers by pay higher wages.
c. pay lower wages but hire more workers.
d. pay higher wages and hire more workers.
a
You might also like to view...
The Laffer curve illustrates that
A) high tax rates could lead to lower tax revenues if economic activity is severely discouraged. B) lowering tax rates will always decrease tax revenues. C) lowering tax rates will always increase tax revenues. D) high tax rates would increase tax revenue and increase the labor supply as people work harder to maintain their standard of living.
The unregulated, single-price monopolist illustrated in the figure above will produce
A) 0 units per day. B) 4 units per day. C) 6 units per day. D) 9 units per day.
The above figure shows the supply and demand curves for rice in the U.S. and in Japan. Assume there is no trade between the two countries
If fertilizer price drop causes the supply curves in both countries to shift rightward by the same amount, then A) the quantity will increase the same amount in both counties. B) the quantity will decrease the same amount in both countries. C) the quantity will increase more in Japan than in the U.S. D) the quantity will increase more in the U.S. than in Japan.
Real GDP per person can increase:
A. if the share of population employed and/or average labor productivity increases. B. only if the share of the population employed decreases. C. only if the share of the population employed increases. D. only if average labor productivity increases.