The marginal factor cost of a monopsonist is
A) upward sloping and the same as the supply curve.
B) downward sloping when the supply curve of labor is upward sloping.
C) upward sloping and rises faster than the supply curve.
D) horizontal.
Answer: C
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When a group lobbies for the prevention of free trade, the most likely reason is
A) rent seeking. B) tariff revenue. C) defense against expensive domestic labor. D) preservation of the environment.
The precise terms of each futures contract are
A) negotiated by the long and the short. B) set by the short position. C) set by the long position. D) established by the exchange on which the trade takes place.
During the 2007–2009 financial crisis, the U.S. government decided that Lehman Brothers was not too big to fail and that AIG was too big to fail.
Answer the following statement true (T) or false (F)
A decrease in the U.S. price level, other things constant, will _____
Fill in the blank(s) with the appropriate word(s).