A monopsonist in the labor market has
A) a perfectly elastic labor supply.
B) a decreasing average variable cost.
C) an upward sloping labor supply curve.
D) a downward sloping marginal revenue product curve.
C
Economics
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Legislation setting high minimum wage rates benefits
A) many people receiving wages far above the minimum by reducing competition from unskilled workers. B) no group in the economy, but is nonetheless widely supported out of ignorance. C) only people who were previously receiving less than the legal minimum. D) primarily teenagers and unskilled workers. E) the whole economy by pushing up average income.
Economics
Explain how product liability laws can reduce adverse selection
What will be an ideal response?
Economics