A Monopsony Has an Upward Sloping Supply Curve Because

question 173

Multiple Choice

A monopsony has an upward sloping supply curve because

• A) diminishing marginal product to scale does not exist in a monopsony.
• B) each additional unit of labor costs less.
• C) when more units of labor are hired, all laborers must receive the higher wage.
• D) when more units of labor are hired, only the new workers receive the higher wage.

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