If a Firm Is a Monopsonist, Then It Faces

question 50

Multiple Choice

If a firm is a monopsonist, then it faces

• A)a downward sloping demand curve for its product, and its marginal revenue curve will lie below its demand curve.
• B)a horizontal marginal factor cost curve.
• C)an upward sloping factor supply curve, and its marginal factor cost curve will lie above the factor supply curve.
• D)an upward sloping factor supply curve, and its marginal factor cost curve will coincide with the factor supply curve.
• E)an upward-sloping factor supply curve, and its marginal factor cost curve will lie below the factor supply curve.

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Definitions:

System

A group of organs working together to perform a function of the body.

Tinnitus

A ringing or tinkling sound in the ear that is heard only by the person affected.

Ringing

The sound or sensation of tones or buzzing heard in the ears, not caused by external sound.

Ears

Organs of hearing that are also essential for maintaining equilibrium.