A Minimum Wage Might Increase Employment by a Monopsony If

question 74

Multiple Choice

A minimum wage might increase employment by a monopsony if it makes the supply of labor curve to that firm

• A) steeper, that is, makes supply more elastic.
• B) steeper, that is, makes supply less elastic.
• C) flatter, that is, makes supply more elastic.
• D) flatter, that is, makes supply less elastic.

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Definitions:

Conditioned Response

A learned response to a previously neutral stimulus that has been repeatedly paired with an unconditioned stimulus.

Operant

A term used in the science of behavior to describe an action or behavior that operates on the environment to produce consequences.

Classical

Pertaining to the first significant period or highest standard within any discipline; in psychology, often refers to conditions or experiments that form the basis of behaviorism, such as classical conditioning.

Pavlov

A Russian physiologist best known for developing the concept of the conditioned reflex through experiments with dogs, leading to the foundation of classical conditioning in behaviorism.