The main difference between a monopsonist and a competitive buyer of labor is that
A) the competitor can hire as many workers as it wants at the going wage while a monopsonist can force wages down when hiring additional workers.
B) the competitor can hire as many workers as it wants at the going wage while a monopsonist must raise wages to hire additional workers.
C) the competitor is a small firm while the monopsonist is a large firm.
D) the competitor is also a competitor in product markets while the monopsonist is also a monopoly in product markets.
Correct Answer:
Verified
Q234: A monopsonist in the labor market has
A)
Q235: Which of the following is NOT considered
Q236: For a monopsonist, marginal factor cost exceeds
Q237: A monopsonist is
A) a single buyer.
B) a
Q238: Marginal factor cost is
A) the change in
Q240: Have unions been successful at raising wages
Q241: The monopsonistic exploitation of labor refers to
A)
Q242: A firm that is a monopolist in
Q243: For a monopsonist, the marginal factor cost
Q244: ![]()
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