Aacsb reflective thinking skills blooms application

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AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #67 Topic: Monopsony and imperfectly competitive labor markets 68. A monopsonist: A. boosts the wage rate above the competitive level to attract more workers. B. reduces the number of workers it employs so that it can pay each worker a lower wage rate. C. is a "wage taker." D. pays a wage rate equal to MRP. AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #68 Topic: Monopsony and imperfectly competitive labor markets
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69. A monopsonistic employer: A. has a perfectly elastic labor supply curve. B. is necessarily a monopolist in the product market. C. confronts a marginal resource (labor) cost that is greater than the wage rate. D. confronts a marginal resource (labor) cost that is less than the wage rate. AACSB: Analytical Skills Blooms: Knowledge Learning Objective: 13-3 McConnell - Chapter 13 #69 Topic: Monopsony and imperfectly competitive labor markets 70. Other things equal, the monopsonistic employer will pay a: A. lower wage rate and hire fewer workers than will a purely competitive employer. B. higher wage rate but hire fewer workers than will a purely competitive employer. C. lower wage rate but hire a larger number of workers than will a purely competitive employer. D. higher wage rate and hire a larger number of workers than will a purely competitive employer. AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #70 Topic: Monopsony and imperfectly competitive labor markets 71. Assume the Ajax Mining Company hires 80 percent of the nonunion labor force of Mother Lode, New Mexico. Also, suppose that this labor force is highly immobile. Economists would describe this employer as a: A. monopolist. B. oligopolist. C. monopsonist. D. monopolistic competitor. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #71 Topic: Monopsony and imperfectly competitive labor markets 72. A monopsonistic employer in an unorganized (nonunion) labor market will: A. pay a wage rate less than labor's MRP. B. pay the same wage rate but hire fewer workers than if the market was purely competitive. C. hire the number of workers indicated by the intersection of the MRC and the labor supply curves. D. pay a wage rate in excess of labor's MRP. AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #72 Topic: Monopsony and imperfectly competitive labor markets 73. As compared to a purely competitive labor market, in a nonunionized monopsonistic labor market wages: A. and employment will both be lower.
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AACSB Reflective Thinking Skills Blooms Application...

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