{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Which of the following is most likely to be an

Info iconThis preview shows pages 8–10. Sign up to view the full content.

View Full Document Right Arrow Icon
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.
Background image of page 8

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
65. If a firm faces an upsloping labor supply curve (and there is no union or minimum wage), its: 66. A monopsonist's wage cost in hiring an additional worker is the: 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: 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. 69. A monopsonistic employer: 70. Other things equal, the monopsonistic employer will pay a: 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:
Background image of page 9
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}