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.
Correct Answer:
Verified
Correct Answer:
Verified
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