Bridge Coal Company Is the Only Employer in a Remote

question 79

Multiple Choice

Bridge Coal Company is the only employer in a remote and mountainous region of the country, so the firm is the monopsony buyer of labor in the market. If the price of coal increases, then the firm's quantity of labor demanded ________ and the equilibrium wage ________.

• A) decreases; decreases
• B) decreases; increases
• C) increases; decreases
• D) increases; increases

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Definitions:

Program Evaluation

The process of systematically collecting, analyzing, and using information to assess the effectiveness and efficiency of programs, strategies, or procedures and to make decisions about program improvement.

Review Technique

A method or process employed to evaluate, assess, or analyze a specific task, project, or performance.

Critical Path Method

A project management technique used to schedule project activities by identifying the longest sequence of dependent tasks.

Gantt Chart

A graphical display of the scheduling of tasks required to complete a project.