The economic term for a sole employer in a nonunion

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59. The economic term for a sole employer in a nonunion community is: A. monopsonist. B. monopolist. C. bilateral competitor. D. bilateral monopolist. AACSB: Analytical Skills Blooms: Knowledge Learning Objective: 13-3 McConnell - Chapter 13 #59 Topic: Monopsony and imperfectly competitive labor markets 60. In a monopsonistic labor market the employer will maximize profits by employing workers up to that point at which: AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #60 Topic: Monopsony and imperfectly competitive labor markets 61. A firm can hire six workers at a wage rate of $8 per hour but must pay $9 per hour to all of its employees to attract a seventh worker. The marginal wage cost of the seventh worker is: 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: 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? AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #64 Topic: Monopsony and imperfectly competitive labor markets
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