BUSINESS
60253881-ch13

If a firm faces an upsloping labor supply curve and

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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: 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: AACSB: Reflective Thinking Skills Blooms: Application Learning Objective: 13-3 McConnell - Chapter 13 #67 Topic: Monopsony and imperfectly competitive labor markets 68. A monopsonist: 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: AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #70 Topic: Monopsony and imperfectly competitive labor markets
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