Monopsony power-Purely competitive

Can someone help me in finding out the right answer from the given options.

Dissimilar to a purely competitive hirer of labor, the firm with monopsony power can: (i) Both set any wage it wishes and hire as many workers as it desires. (ii) Generate as much as it wishes and charge any price it needs for its output. (iii) Be expected to try to maximize its gains. (iv) Make sure monopolistic exploitation through wage discrimination. (v) None of above.

View Complete Question

Related Questions in Microeconomics

Q : Elasticity of demand changes with price

Calculating the price elasticity of demand for DVD games for a price variation from $50 to zero in such demand curve is: (w) 0. (x) infinity. (y) mostly meaningless since elasticity changes continuously over such range. (z) 1.5.

Q : Voluntary Poverty and Involuntary

Families or individuals experience involuntary poverty while they: (w) cannot rise above the poverty line since they fail to qualify for transfer payments. (x) are laid off from work throughout a widespread recession or depression. (y) lack adequate r

Q : Determine income elasticity of demand

This given figure as in below demonstrates how the consumption of goods A, B, C and D differs as a family’s income changes. There income elasticity of demand equivalents 1 for: (w) good A. (x) good B (y) good C. (z) good D

Q : Law of demand Describe the law of

Describe the law of demand with help of a schedule diagram? Answer: The Law of demand states that there is an inverse relationship among the price of a commodity an

Q : Why demand curve is more elastic Why

Why demand curve is more elastic under monopolistic competition as compare to monopoly.

Q : Influence of good on opportunity cost

The law of demand defines that, all as well constant, consumers will obtain: (i) More of a good, the lower its opportunity cost. (ii) Less of any good, higher the prices of its substitutes. (iii) Advertised goods more often than generic products. (iv) Greater luxuries

Q : Bond Theorem Applications What are Bond

What are Bond Theorem Applications and also write down its consequences?

Q : Proprietorships-partnerships and

The division of U.S. businesses into the categories of proprietorships, partnerships, and corporations is based on: A) generally accepted accounting principles. B) legal considerations. C) the judg-ment of the American Economic Association. D) an executive order of th

Q : Income Distribution and Satisfaction

The proposition which taxing the rich to provide to the poor improves social welfare can’t be proved due to the impossibility of: (1) developing a political consensus about efficient redistribution programs. (2) the marginal utility of income di

Q : Value of the Marginal Product I have a

I have a problem in economics on Value of the Marginal Product. Please help me in the following question. Value of the marginal product is stated as: (1) MPP × P. (2) MPP × MR. (3) MPP × MC. (4) MPP × MRC.

Discover Q & A

Leading Solution Library

Avail More Than 1432167 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1955583
Asked

3,689

Active Tutors

1432167

Questions
Answered

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

Submit Assignment