Which of the Following Could Be Considered an Example of a Monopsony

question 72

Multiple Choice

Which of the following could be considered an example of a monopsony?

• A) a professional sports league
• B) the only auto repair shop in a small town
• C) a single mining firm that was the only employer in the area
• D) all of the above

Understand the concepts and calculations related to standard cost systems.

Analyze and compute direct materials variances, including price and quantity variances.

Analyze and compute direct labor variances, including rate and efficiency variances.

Identify and calculate variable manufacturing overhead variances, including rate and efficiency variances.

---

Definitions:

Human Capital Stock

The collective skills, knowledge, and abilities that employees bring to their workplace, considered an asset to the organization.

Specific Form

A particular or distinct shape, version, or type of something, often referring to documents or structures.

Available

The state of being ready for use or the ability to be accessed or obtained.

HR Forecasting Advantages

The benefits of predicting an organization's future human resource needs to ensure that it has the right number of employees with the necessary skills.