Which of the following is not correct?
A. Other things equal, a monopsonist will pay a lower wage rate than will a firm hiring labor
competitively.
B. A monopsonistic employer will pay workers a wage rate equal to their MRP.
C. A purely competitive seller will pay workers a wage rate equal to their MRP.
D. An imperfectly competitive seller will employ additional workers as long as the MRP of
additional workers exceeds their MRC.
Answer: B
You might also like to view...
A government-imposed price ceiling set below the market's equilibrium price will create an excess demand for a product. As a result of the excess demand, either the demand curve will tend to shift to the left or the supply curve will shift to the right-or both
a. True b. False
The benefits-received principle of taxation is most evident in:
a. progressive tax rates. b. the corporate income tax. c. the personal income tax. d. excise taxes on gasoline.