Examlex
In a study of adopted children, the finding that the only children who had a considerable likelihood of developing schizophrenia were those who had a biological parent with schizophrenia and who were also adopted into a troubled home is evidence of the:
Monopsony
A market condition where there is only one buyer for a product or service, giving them significant control over prices.
Hourly Wage
The rate an employee is paid for each hour of work.
Labor-Supply Curve
A graphical representation showing the relationship between the amount of labor workers are willing to provide at different wage rates.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choosing to consume or produce one good or service over another.
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