15 d 21 aacsb analytical skills blooms application

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$15. D. $21. AACSB: Analytical Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #61 Topic: Monopsony and imperfectly competitive labor markets 62. Suppose the MRP of a firm's twelfth worker is $22 and the worker's marginal wage cost is $16. We can say with certainty that the firm: A. is hiring labor in a competitive labor market at a wage rate of $16. B. is hiring labor in a monopsonistic labor market. C. will find it profitable to hire fewer workers. D. will find it profitable to hire more workers. AACSB: Analytical Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #62 Topic: Monopsony and imperfectly competitive labor markets
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63. In monopsony: A. each firm employs a small portion of the total supply of labor. B. the work force is highly mobile. C. the wage rate paid by the employer varies directly with the number of workers employed. D. the employer is a "wage taker." AACSB: Analytical Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #63 Topic: Monopsony and imperfectly competitive labor markets 64. Which of the following is most likely to be an example of monopsony? A. the market for fast-food workers in a large summer resort town. B. the market for card dealers in Las Vegas. C. the market for major league baseball umpires. D. the market for retail sales clerks in a major city. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #64 Topic: Monopsony and imperfectly competitive labor markets 65. If a firm faces an upsloping labor supply curve (and there is no union or minimum wage), its: A. MRC curve is also upsloping. B. MRC curve is perfectly elastic. C. MRP curve is perfectly inelastic. D. MRP curve is also uploping. AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #65 Topic: Monopsony and imperfectly competitive labor markets 66. A monopsonist's wage cost in hiring an additional worker is the: A. worker's wage rate. B. worker's wage rate plus the wage increases paid to all workers already employed. C. worker's wage rate adjusted for the lower price that must be charged for the extra output. D. marginal wage cost less the wage rate. AACSB: Analytical Skills Blooms: Knowledge Learning Objective: 13-3 McConnell - Chapter 13 #66 Topic: Monopsony and imperfectly competitive labor markets 67. A large hospital in a relatively small city finds that, if its demand for nurses increases, the wages of nurses will rise. We can say that the hospital: A. is a monopsonist. B. faces a perfectly elastic supply of nurses. C. is functioning in a perfectly competitive labor market. D. will confront a surplus of nurses.
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15 D 21 AACSB Analytical Skills Blooms Application Learning...

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