A monopsonistic employer faces a
A) perfectly elastic labor supply curve.
B) perfectly inelastic labor supply curve.
C) MFC curve that is greater than the wage rate at each quantity of labor.
D) MFC curve that is less than the wage rate at each quantity of labor.
Answer: C
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If the CPI in 2004 is 200, and in 2005 the CPI is 180, the rate of inflation from 2004 to 2005 is
A) 20%. B) 10%. C) 0%. D) -10%.
Government taxes are an example of a policy lever.
Answer the following statement true (T) or false (F)
A monthly budget can help you achieve financial security by
A) expanding the borrowing limits on your existing credit cards and increasing the number of credit cards you hold. B) helping you choose stocks that are most likely to increase in price. C) increasing your financial awareness and helping you allocate your funds more effectively. D) reducing the likelihood that you will face unexpected expenditures for maintenance and repairs.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.