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.

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Definitions:

Individualized Plan

A customized approach designed to meet the unique needs and goals of an individual, often used in educational or healthcare settings.

Compete With Physicians

The action or situation where non-physician healthcare providers strive to match or surpass physicians in certain aspects of healthcare delivery.

Functional Fixedness

A cognitive bias that limits a person to use an object only in the way it is traditionally used.

Heuristic

A mental shortcut that allows people to solve problems and make judgments quickly and efficiently.