Because the Monopsonist Takes into Account the Effect That Employment

question 18

Multiple Choice

Because the monopsonist takes into account the effect that employment expansion has on wages paid to existing workers, it will

• A)pay union workers more than nonunion workers.
• B)be exempt from minimum wage laws.
• C)employ more and pay more than the corresponding values under competition.
• D)employ less and pay less than the corresponding values under competition.

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Definitions:

Skills

Refers to the learned abilities or expertise that an individual possesses, which enable them to perform tasks or jobs effectively.

Labour Market

The supply and demand for labor, where employers seek to hire workers and individuals seek employment.

HR Forecasting Process

The method used by human resources to estimate the future demand for and supply of employees needed to ensure the company's operations run smoothly.

Source of Human Capital

Origin from which an organization acquires its employees' knowledge, skills, and abilities, contributing to its competitiveness and success.