Which of the following is characteristic of a labor market that is a monopsony?
A. The type of labor available is relatively mobile from one industry to another
B. The supply curve for labor lies above the marginal resource cost curve of the firm
C. The wage rate the firm must pay varies directly with the number of workers it employs
D. The firm's employment is a small portion of the total employment of that type of labor
C. The wage rate the firm must pay varies directly with the number of workers it employs
You might also like to view...
An increase in personal saving as a percentage of disposable income contributes to capital deepening
Indicate whether the statement is true or false
Which of the following is a critique of GDP discussed in the text?
Select one: a. GDP does not account for resource depletion. b. GDP does not account for well-being. c. GDP does not include household production. d. All of the answers listed.
If more people think a corporation's stock is overvalued than think it is undervalued then there is a
a. surplus, so its price will rise. b. surplus, so its price will fall. c. shortage, so its price will rise. d. shortage, so its price will fall.
Which of the following statements is true?
(a) Poland, Denmark and Sweden currently do not use the Euro. (b) England, Poland and Portugal currently do not use the Euro. (c) England, Sweden and Malta currently do not use the Euro. (d) England, Greece and Cyprus currently do not use the Euro.