Multiple Choice
If a firm is a monopsony, then it
A) can pay any price it wants for the factors that it hires.
B) will have to pay the same price to each factor owner that supplies its factor.
C) will have to pay a higher price to purchase additional units of a factor.
D) need not lower the price of its product to induce buyers to purchase additional quantities.
Correct Answer:
Verified
Correct Answer:
Verified
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