Refer to the Above Graph

question 109

Multiple Choice

Refer to the above graph.Under monopsony in the sale of output and hiring of labor services,the wage rate will be:

• A) W₁ and Q₁ workers will be hired.
• B) W₂ and Q₂ workers will be hired.
• C) W₂ and Q₁ workers will be hired.
• D) W₃ and Q₁ workers will be hired.

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Definitions:

Culture

The customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

Determinant

A factor or element that decisively affects the nature or outcome of something.

Behaviour

The actions or reactions of a person or animal in response to external or internal stimuli.

Martin Seligman

An American psychologist, educator, and author of the theory of "Learned Helplessness" and a founder of Positive Psychology.