All of the following are characteristics of a monopsony employer except:
a. there is a single buyer of labor
b. the monopsony firm moves up the positively sloped supply curve it faces.
c. fewer number of workers hired for wages below what they would be in a competitive market.
d. workers work for less than their marginal revenue product.
b
Economics
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Refer to the diagram. For output level Q, per unit costs of B are:
A. unattainable and imply the inefficient use of resources.
B. unattainable, given resource prices and the current state of technology.
C. attainable, but imply the inefficient use of resources.
D. attainable and imply least-cost production of this level of output.
Economics
The Federal Open Market Committee has _____ members.
A. 7 B. 10 C. 12 D. 14
Economics