If a Firm Is a Monopsonistic Hirer of Labor

question 37

Multiple Choice

If a firm is a monopsonistic hirer of labor,

• A)its marginal expense for labor is greater than the market wage.
• B)its marginal expense for labor is equal to the market wage.
• C)its marginal expense for labor is less than the market wage.
• D)it is a price taker in the labor market.

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Definitions:

Mere Contact

relates to the phenomenon where increased exposure to something or someone leads to a more positive evaluation of that object or person.

Prejudices

Preconceived opinions or judgments about people or situations that are not based on reason or actual experience.

Within Group Friendships

Relationships characterized by personal bonds and affinities that develop among members within the same group or team.

Probing Teams

Teams that are designated or tasked to investigate, analyze, and find solutions to complex issues or unknown problems within an organization.