The return to monopsony power refers to the
a. difference between the marginal revenue product and the wage rate of the last worker hired multiplied by the number of workers employed
b. fact that the marginal cost of labor for a monopsony is lower than the wage rate
c. wage rate minus the marginal revenue product
d. higher marginal revenue product of labor that a worker produces under monopsony
e. fact that a monopsonist can choose both the wage rate and the number of workers hired simultaneously
A
You might also like to view...
Countries with high rates of economic growth tend to have
A) a lower life expectancy at birth. B) low rates of technological advancement. C) a declining incidence of business cycle fluctuations. D) a labor force that is more productive.
Marketable debt from the U.S. government in the form of bonds, notes, and bills is known as
a. monetized debt b. crowding out c. derivatives d. Treasury securities e. external debt