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temp321 temp321
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4 years 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

InMicro


Edition: 1st
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jeromet1jeromet1
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4 years ago
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temp321 Author
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#2
4 years ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
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