A Monopsonist's Wage Cost in Hiring an Additional Worker Is

question 88

Multiple Choice

A monopsonist's wage cost in hiring an additional worker is the

• A) worker's wage rate.
• B) worker's wage rate plus the wage increases paid to all workers already employed.
• C) worker's wage rate adjusted for the lower price that must be charged for the extra output.
• D) marginal wage cost less the wage rate.

---

Definitions:

Generic Business Strategy

A basic framework for a business approach focusing on cost leadership, differentiation, or focus/niche to achieve competitive advantage.

Cost Focus

A business strategy that aims to become the lowest-cost producer in an industry or market segment to gain a competitive advantage.

Market Segments

Market Segments are distinct groups of consumers within a broader market who share similar characteristics and needs.

Differentiation Focus

A strategy where a company targets a specific market segment with a unique product or service offering to stand out from competitors.