For a monopsonist, the labor supply curve is upward sloping because
A) the monopsonist must compete with other industries for that labor.
B) the monopsonist requires that the laborers are highly skilled.
C) the monopsonist is the only buyer in that labor market.
D) the monopsonist restricts the supply of labor.
C
You might also like to view...
Compared to perfectly competitive firms, the demand curve for a monopolist will be
A) as elastic. B) more elastic. C) less elastic. D) perfectly elastic.
Firms' profits or production do not increase in the long run because:
a. some factors of production are fixed in the long run. b. all the factors of production are variable in the long run. c. changes in factor costs completely offset any change in the price level. d. there exists an excess capacity in the economy in the long run. e. factor costs remain fixed in the long run.
The long-run Phillips curve is a horizontal line at the natural rate of unemployment
a. True b. False Indicate whether the statement is true or false
Luther experiments with explosives and designs fireworks. Oftentimes he overloads a firework and shatters his neighbors’ windows. What does his negative impact on others best represent?
a. pecuniary cost b. nonpecuniary cost c. moral hazard d. adverse selection