Which of the following best describes a monopsonist employer?
A) A single producer of a specific product in a given market
B) The only unionized employer in a given market
C) A single purchaser of labor in a given market
D) The most dominating producer in a given market

Question

Quizplus · Accepted Answer

A monopsonist employer is a single purchaser of labor in a given market, meaning they have significant control over the wages and working conditions offered to workers in that market. This can lead to lower wages and reduced employment opportunities for workers. A monopsonist employer is different from a monopolist producer, which is a single seller of a product in a given market.

Which of the Following Best Describes a Monopsonist Employer