Universities are able to act as monopsonists in the market for professors because
A) a university usually does not consider hiring faculty members from another institution.
B) faculty members usually have to move to a different city when changing universities.
C) students like all of their professors.
D) senior faculty members are willing to move to a new university at any cost.
B
You might also like to view...
The purpose of the "draft" developed by owners' associations in many professional sports is to
A) assure all players at least a minimum salary. B) control competition among owners for the services of players. C) control competition among players. D) control competition between players and owners. E) keep all teams at roughly equal competitive levels.
If the price of a commodity increases, all other things unchanged, you would expect the:
A) demand to decrease. B) quantity demanded to increase. C) quantity demanded to decrease. D) demand curve to shift to the left.