Reference no: EM13740816
1. Which of the following might most closely represent a monopsonist?
Select one:
a. The university in a university town
b. A huge university located in the middle of a large city
c. The nuclear power plant located 40 miles outside a large city
d. OPEC
e. An abandoned mine in the middle of the desert
2. In a monopsonistic labor market, the marginal-factor-cost curve is
a. positively sloped and lies above the labor-supply curve.
b. positively sloped and coincides with the labor-supply curve.
c. positively sloped and lies below the labor-supply curve.
d. negatively sloped and coincides with the labor-supply curve.
e. negatively sloped and coincides with the marginal-physical-product curve.
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