A Perfectly Discriminating Monopsonist

question 6

Multiple Choice

A perfectly discriminating monopsonist

• A)pays the equilibrium wage to all workers.
• B)pays each worker his or her reservation wage.
• C)receives zero profit in the long run.
• D)disregards minimum wage laws.
• E)faces an increasing value of marginal product curve.

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Definitions:

Auditory Nerve

The nerve that transmits auditory information from the cochlea in the inner ear to the brain.

Higher-Frequency Sounds

Sounds that have a higher pitch due to their faster vibration rates, typically above the normal human hearing range of 20 to 20,000 hertz.

Cochlea

A spiral-shaped, fluid-filled inner ear structure that is responsible for converting sound waves into nerve impulses.

Ossicles

The three tiny bones in the middle ear known as the malleus, incus, and stapes, involved in the transmission of sound.