In a monopsony labor market, imposition of a minimum wage will
a. reduce employment
b. increase unemployment
c. cause employers to actually reduce wages
d. reduce the number of people looking for work
e. none of the above
E
Economics
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In the real world, how many people does it take to make a light bulb?
A) About five. One person will make the bulb, and four will watch over the person doing the work. B) Between ten and twenty C) Less than forty D) Millions
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In the table above, the firm producing the product is
A) a monopoly. B) an oligopoly. C) a duopoly. D) perfectly competitive.
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