A monopsony has an upward sloping supply curve because
A) diminishing marginal product to scale does not exist in a monopsony.
B) each additional unit of labor costs less.
C) when more units of labor are hired, all laborers must receive the higher wage.
D) when more units of labor are hired, only the new workers receive the higher wage.
C
Economics
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If a country were to experience an increase in its factors of production, its production possibilities frontier would shift outward
Indicate whether the statement is true or false
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Liabilities are:
A. anything of value one owns. B. current income minus spending on current needs. C. the debts one owes. D. saving minus investment.
Economics