Universities Are Able to Act as Monopsonists in the Market

question 101

Multiple Choice

Universities are able to act as monopsonists in the market for professors because

• A) a university usually does not consider hiring faculty members from another institution.
• B) faculty members usually have to move to a different city when changing universities.
• C) students like all of their professors.
• D) senior faculty members are willing to move to a new university at any cost.