Multiple Choice
Which of the following statements is false?
A) Monopsony firms will hire more workers if a minimum wage is imposed below the monopsony wage.
B) Monopsony firms will behave as if they are competitive if a wage is imposed at the level of the competitive wage.
C) Monopsony firms can earn a higher profit than firms operating in competitive labour markets.
D) Monopsony firms have a wage lower than the marginal labour cost because they face upward- sloping labour supply curves.
E) Monopsony firms have a wage greater than the marginal labour cost because they face upward- sloping labour supply curves.
Correct Answer:
Verified
Correct Answer:
Verified
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