Which of the following statements is true?
a. A monopsony is the only employer of a factor of production.
b. A monopsony will pay workers a higher wage and employ fewer workers than a competitive labor market.
c. A monopsony has a marginal factor cost curve which lies below its supply curve of labor.
d. Unions are becoming a greater influence in American labor markets.
e. All of these.
a
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Assume that GDP = $10,000 and the MPC = 0.75. If policy makers want to increase GDP by 30 percent, by how much should they decrease taxes?
A) $300 B) $750 C) $1,000 D) $3,000
A trade policy is a government policy
a. directed toward the goal of improving the tradeoff between equity and efficiency. b. that directly influences the quantity of goods and services that a country imports or exports. c. intended to exploit the tradeoff between inflation and unemployment by altering the budget deficit. d. concerning employment laws.