Assume the ajax mining company hires 80 percent of

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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: 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: AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #73 Topic: Monopsony and imperfectly competitive labor markets 74. A monopsonist pays a wage rate that is: AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #74 Topic: Monopsony and imperfectly competitive labor markets
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75. "Player drafts" of professional athletes: A. increase the competitiveness of the labor market for professional athletes. B. reduce the profitability of professional sports franchises. C. promote monopsony in the hire of professional athletes. D. increase salaries of professional athletes. AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #75 Topic: Monopsony and imperfectly competitive labor markets 76. Which of the following is not correct? AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #76 Topic: Monopsony and imperfectly competitive labor markets
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