In Order to Hire an Additional Worker, a Monopsony Must

question 30

Multiple Choice

In order to hire an additional worker, a monopsony must pay

• A) the same wage rate it paid before.
• B) a higher wage rate than it paid before.
• C) a lower wage rate than it paid before.
• D) a wage rate that is sometimes higher, sometimes lower and sometimes the same as before, depending on the elasticity of the supply of labour.

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Definitions:

C Corporations

A type of business entity that is taxed separately from its owners, providing limited liability to its shareholders.

Tax Returns

Formal documents filed with tax authorities that report income, expenses, and other pertinent tax information.

Corporate Distributions

Payments made by a corporation to its shareholders from its earnings.

Earnings and Profits

A term used in corporate taxation to refer to the after-tax profits of a corporation, often affecting dividend distributions.