Because the Labor Supply Curve for a Monopsonist Is Upward

question 96

Multiple Choice

Because the labor supply curve for a monopsonist is upward sloping,the monopsonist

• A) hires zero units of labor.
• B) chooses the perfectly competitive quantity of labor.
• C) must increase the wage to attract more units of labor.
• D) must take the wage as given by the market.

---

Definitions:

Stanford-Binet Intelligence Scale

A cognitive ability assessment tool that measures intelligence through various verbal and non-verbal tasks.

Mental Age

An assessment of an individual's mental aptitude based on the average age at which people achieve a particular score.

William Stern

A German psychologist who is best known for developing the concept of the intelligence quotient (IQ) and for his significant contributions to differential psychology.

Intelligence Quotient

A measure of a person's reasoning ability compared to the statistical norm or average for their age, calculated using standardized tests.