The Gap Between the Value a Monopsony Places on the Last

question 74

Multiple Choice

The gap between the value a monopsony places on the last worker hired and the wage paid will increase when

• A) the supply curve becomes more elastic at the optimum.
• B) the supply curve becomes less elastic at the optimum.
• C) the supply curve becomes horizontal.
• D) the value of the last unit of labor hired is greater than the cost.

---

Definitions:

Medication Overdoses

The act of taking a medication in quantities greater than advised, which can lead to serious health risks or even death.

Financial Losses

Monetary deficits that occur when expenses exceed revenues, causing a negative financial impact on individuals or businesses.

Death

The cessation of all biological functions that sustain a living organism.

Irreversible

Unable to be undone or altered.