Problem on Monopsony Power

The firm probable to encompass significant monopsony power in its labor market would be: (1) Big cotton farm in the Texas hiring migrant workers. (2) Textile producer in the Hong Kong hiring factory workers. (3) Janitorial service firm in London hiring the maintenance engineers. (4) Ski resort in the Aspen and Colorado hiring the ski instructors. (5) New York investment banker trying to hire fresher college graduates.

Choose the right answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Problem regarding Bilateral Monopoly

The Bilateral monopoly models would be most suitably employed to analyze the negotiations among: (1) Le-Bron James, an all-star NBA basketball player and the Cleveland Cavaliers. (2) A newly hired clerk at Wal-Mart and the Wal-Mart Human Resources Dep

Q : Unitary price elasticity of demand The

The output of RoboMaids consequent to the point where demand has unitary price elasticity is approximately: (i) 2,000 robots weekly. (ii) 4,000 robots monthly. (iii) 6,000 robots monthly. (iv) 10,000 robots monthly. (v) 13,000 robots monthly.

Q : Raising or lowering the price in demand

The point on this illustrated demand curve in below at that either raising or lowering the price causes total revenue of Monsieur Cournot to decline is: (i) point a. (ii) point b. (iii) point c (iv) point d. (v) point e.

Q : Determine probable price taker Of the

Of the given firms, the probably to be a price taker would be: (1) Microsoft. (2) Wal-Mart. (3) Toyota. (4) the Los Angeles Lakers. (5) the biggest wheat farm in Canada. I need a good answer on the topic of

Q : Ceteris Paribus assumption The ceteris

The ceteris paribus (all as well constant) assumption is most obviously implicit in the statement of a tailor who states that, “We will vend more suits in the month of May of 2008: (i) Than we sold in the month of May 2003. (ii) Than we sold in

Q : Long-run In the long-run, an increase

In the long-run, an increase in consumer desire for strawberries is most likely to:

Q : Statement of Law of Demand The law of

The law of demand defines that when a good’s price increases, its quantity demanded will drop: (1) No matter what occurs to other variables. (2) When all as well is supposed constant. (3) Since its demand curve shrinks. (4) If substitutes become

Q : Barriers to entry A barrier to entry

A barrier to entry is: (w) an impediment for firms to expand their output capacity. (x) a limit to the number of entrants to a monopolist industry. (y) an obstacle which makes this hard for new firms to enter the industry. (z) the fixed cost to a pote

Q : Define Direct taxes Direct taxes :

Direct taxes: Whenever the liability to pay tax and the burden of that tax fall on similar person, it is termed as direct tax. Illustrations are: wealth tax, income tax, corporation tax, gift tax and so on.

Q : Profit-maximizing price The

The profit-maximizing price for “Silver Screen Classic” of Nostalgia DVDs is: (i) $6 per copy. (ii) $10 per copy. (iii) $12 per copy. (iv) $16 per copy. (v) $20 per copy.

Discover Q & A

Leading Solution Library

Avail More Than 1422014 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1952034
Asked

3,689

Active Tutors

1422014

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment