Which of the Following Is Not True About a Monopsonist

question 10

Multiple Choice

Which of the following is not true about a monopsonist?

• A) It can set the wage rate and hire any desired number of workers at that wage.
• B) It is the only buyer of labor in a market.
• C) It usually extracts rents from its monopsony power.
• D) It determines the optimal employment-wage rate combination by equating the marginal revenue product of labor to the marginal cost of labor.
• E) It usually has to bargain with unionized workers.

---

Definitions:

Max Weber

A German sociologist, philosopher, and political economist, whose ideas profoundly influenced social theory and social research.

Positivist Critique

A critical perspective based on the belief that information derived from logical and mathematical treatments and reports of sensory experience is the exclusive source of all authoritative knowledge.

French Revolution

A period of radical social and political upheaval in France between 1789 and 1799, which resulted in the overthrow of the monarchy, establishment of a republic, and significant changes in the country's social structure.

Ameliorism

A philosophical stance promoting the belief that the world or society can be improved through human effort.