Refer to the given data. If there is neither a union nor a minimum wage, we can conclude that this firm
A)"purchases" labor in a purely competitive labor market.
B)is a monopsonist.
C)faces a perfectly inelastic labor supply curve.
D)has a perfectly elastic labor demand curve.

Question

Refer to the given data. If there is neither a union nor a minimum wage, we can conclude that this firm
A)"purchases" labor in a purely competitive labor market. 
B)is a monopsonist. 
C)faces a perfectly inelastic labor supply curve. 
D)has a perfectly elastic labor demand curve.

Quizplus · Accepted Answer

The Answer of  Refer to the given data. If there is neither a union nor a minimum wage, we can conclude that this firm
A)"purchases" labor in a purely competitive labor market. 
B)is a monopsonist. 
C)faces a perfectly inelastic labor supply curve. 
D)has a perfectly elastic labor demand curve.

Refer to the Given Data