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temp321 temp321
wrote...
Posts: 369
A week ago

Question 1.

Compared to a competitive market, a firm that has a monopsony in a labor market would



hire more workers and pay lower wages.



hire fewer workers and pay lower wages.



hire more workers and pay higher wages.



hire fewer workers and pay higher wages.



Question 2.

The labor market in Major League Baseball features



an oligopoly by the League in employing professional baseball players that is offset by an oligopsony by the players in the labor market.



a monopsony by the League in employing professional baseball players that is offset by the players' membership in a labor union.



monopolistic competition between the teams and professional baseball players.



a monopoly by the League in employing professional baseball players that is offset by the players' membership in a labor union.

Textbook 

InMicro


Edition: 1st
Authors:
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Answer verified by a subject expert
jeromet1jeromet1
wrote...
Posts: 313
A week ago
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Answer 1

hire fewer workers and pay lower wages.



Answer 2

a monopsony by the League in employing professional baseball players that is offset by the players' membership in a labor union.

1

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wrote...
A week ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
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