A Profit-Maximizing Monopsonist

question 25

Multiple Choice

A profit-maximizing monopsonist

• A) pays the same wage to all types of labor.
• B) hires an equal number of male and female workers and pays them the same wage.
• C) hires more minority workers than nonminority workers, but pays the minority workers less than the nonminorities.
• D) hires fewer workers and pays its workers less than it would if it were operating in a competitive labor market.
• E) substitutes low-skilled labor for high-skilled labor in the long run.

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Definitions:

Data Collection

The process of gathering and measuring information from varied sources to get a complete and accurate picture of an area of interest.

Adult Lifestyle

Pertains to the way of life or style of living that reflects the attitudes and values of adults, which may include aspects such as work, leisure, and relationships.

Dual-Income

Pertaining to a household or family where two members, typically spouses, are earning income through employment.

Parenting

The process of promoting and supporting the physical, emotional, social, financial, and intellectual development of a child from infancy to adulthood.