A Monopsonist Wants to Purchase More Labor

question 224

Multiple Choice

A monopsonist wants to purchase more labor. Which of the following statements is true?

• A) The wage rate that the monopsonist has to pay future workers is lower than it pays current workers since there is no other place to work.
• B) The wage rate that the monopsonist has to pay future workers will be the same rate it pays current workers.
• C) The wage rate that the monopsonist has to pay future workers is higher than what it will continue to pay current workers.
• D) The monopsonist will have to raise the wage rate for current and additional employees.

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Definitions:

Genetic Relation

The biological linkage or connection between individuals, determined by shared genetic material or ancestry.

Collective Guilt

Emotional experience where individuals feel responsible for the actions of a group they identify with, even if they didn't partake in those actions directly.

Just World Phenomenon

The cognitive bias that a person's actions always bring morally fair and fitting consequences to that person.

Kin Selection

A strategy in evolution where an organism's focus is on enhancing the reproductive prospects of its relatives, even if it results in a compromise to its own survival and ability to reproduce.