When a Labour Market Is a Monopsony,what Can We Say

question 25

Multiple Choice

When a labour market is a monopsony,what can we say about the monopsony firm

• A)It hires more workers than would a competitive firm.
• B)It hires fewer workers than is socially optimal.
• C)It pays a higher wage than would a competitive firm.
• D)It is nevertheless regarded as a competitive firm in both the input and output markets.

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Definitions:

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The misuse of power by government officials for illegitimate private gain, including bribery, fraud, and embezzlement.

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A theory suggesting that different ethnic groups move into, and subsequently out of, low-status and often criminally associated roles as part of a cyclical process driven by social and economic forces.

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