Which of the Following Is Characteristic of a Labor Market

question 94

Multiple Choice

Which of the following is characteristic of a labor market that is a monopsony?

• A) The type of labor available is relatively mobile from one industry to another.
• B) The supply curve for labor lies above the marginal resource cost curve of the firm.
• C) The wage rate the firm must pay varies directly with the number of workers it employs.
• D) The firm's employment is a small portion of the total employment of that type of labor.

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Definitions:

Sound Wave

A type of wave that is an oscillation of pressure transmitted through a solid, liquid, or gas, composed of frequencies within the range of hearing and capable of producing a sound sensation.

Pressure Wave

A type of wave in which the oscillations occur in the direction of propagation, often found in sound waves.

Cochlea

A spiral-shaped, fluid-filled inner ear structure; it is essential for hearing as it transforms sound into nerve impulses.

Sensory Receptors

Specialized cells or nerves that detect changes in the environment and send signals to the brain.