Which of the Following Statements Is True

question 72

Multiple Choice

Which of the following statements is true?

• A) A monopsony is the only employer of a factor of production.
• B) A monopsony will pay workers a higher wage and employ fewer workers than a competitive labor market.
• C) A monopsony has a marginal factor cost curve which lies below its supply curve of labor.
• D) Unions are becoming a greater influence in American labor markets.
• E) All of these.

---

Definitions:

Scatter Diagram

A graph that shows points that correspond to actual observations of the x- and y-variables; a curve is usually fitted to the scatter of points to indicate the trend in the data.

Dependent Variables

Variables in an experiment or model that are expected to change in response to changes in the independent variable(s).

Nonlinear

Describes a process or relationship where a change in input does not lead to a proportional change in output, indicating a complex, non-proportional relationship between variables.

Negative Relation

A relationship between two variables where an increase in one variable is associated with a decrease in the other variable.