A Monopsony Exists When

question 140

Multiple Choice

A monopsony exists when

• A)there is a single seller with no rivals in an input market.
• B)there is a labor union controlling labor supply in a labor market.
• C)there is a single buyer with no rivals in an input market.
• D)employers in a labor market face a horizontal labor supply curve.

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Definitions:

Molding Machine

A machine used in manufacturing to shape liquid or pliable raw material using a rigid frame called a mold.

Straight-line Method

A method of calculating depreciation or amortization by evenly spreading the cost over the useful life of the asset.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life.

Residual Value

The estimated value of an asset at the end of its useful life, often used in calculating depreciation.