A Profit-Maximizing Monopsonist

question 25

Multiple Choice

A profit-maximizing monopsonist

• A) pays the same wage to all types of labor.
• B) hires an equal number of male and female workers and pays them the same wage.
• C) hires more minority workers than nonminority workers, but pays the minority workers less than the nonminorities.
• D) hires fewer workers and pays its workers less than it would if it were operating in a competitive labor market.
• E) substitutes low-skilled labor for high-skilled labor in the long run.

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Definitions:

Unsafe Practices

Behaviors or procedures that put individuals at risk of injury or health hazards, often violating established safety regulations and standards.

Fair Hearing

A judicial or administrative procedure that guarantees an individual the opportunity to express their case in a just and equitable manner before making a decision that affects their rights or interests.

Right of Privacy

The right of individuals to keep their personal information confidential and protected from unauthorized use in the workplace.

Autonomy

The degree of independence and self-direction that an individual or entity has in making decisions or controlling activities.