If a Specific Labour Market Is Considered to Be a Monopsony

question 170

Multiple Choice

If a specific labour market is considered to be a monopsony, who has the power and can impact wages?

• A) The buyer and seller of labour have equal power in the market as they can both affect wages.
• B) Neither the buyer nor the seller of labour has market power because the wage rate is determined by the market forces of demand and supply.
• C) The buyer of labour generally has market power and they can affect wages.
• D) The seller of labour generally has market power and they can affect wages.

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Definitions:

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A model describing the body's short-term and long-term reactions to stress, consisting of three stages: alarm, resistance, and exhaustion.

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