Wages under a bilateral monopoly are determined by:
A. the positions of the labor supply and demand curves.
B. marginal factory cost.
C. the bargaining power of monopsonists and unions.
D. labor productivity.
Answer: C
Economics
You might also like to view...
The opportunity cost of holding money
A) refers to the amount of paper currency held by the Fed. B) is measured by the alternative interest yield obtainable by holding some other asset. C) is based on the fiduciary monetary system. D) refers to the Fed's role as the lender of last resort.
Economics
All economic questions arise because we
A) want more than we can get. B) want more than we need. C) have an abundance of resources. D) have limited wants that need to be satisfied.
Economics