Multiple Choice
Which of the following statements is true about monopsony?
A) Monopsonists face an upward-sloping supply curve of labor as long as unions control the supply curve of labor.
B) Monopsonists can choose to hire any number of workers they wish.
C) Monopsonists are also monopolists.
D) Monopsonists will keep hiring until the worker's MRP = TLC.
E) Monopsonists face a horizontal supply curve of labor as long as unions do not control the supply of labor.
Correct Answer:
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