Because the Labor Supply Curve for a Monopsonist Is Upward

question 96

Multiple Choice

Because the labor supply curve for a monopsonist is upward sloping,the monopsonist

• A) hires zero units of labor.
• B) chooses the perfectly competitive quantity of labor.
• C) must increase the wage to attract more units of labor.
• D) must take the wage as given by the market.

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Definitions:

Higher Energy

Describes a state where a system or particle has increased energy, often requiring input of energy to reach this state.

Electromagnetic Spectrum

The range of all types of electromagnetic radiation, from gamma rays to radio waves.

Increasing Wavelength

A phenomenon where the wavelength of light or other electromagnetic radiation becomes longer, moving from higher energy to lower energy on the spectrum.

Directly Proportional

A relationship between two variables where they increase or decrease in conjunction with each other at a constant ratio.