Q1、The labor market in a specific geographic area consists of one dominant employer and workers who are represented by a union. Compared to the wage rate and quantity of labor employed that would prevail in a competitive market, it is most likely that the outcome will be:

A)   a lower wage rate, but more workers will be hired.

B)   determined by bargaining between the two sides.

C)   a higher wage rate, but fewer workers will be hired.

 

Q2、Compared to the competitive level of employment, a monopsonist employer hiring non-union workers most likely:

A)   hires more workers and pays a lower wage.

B)   hires fewer workers and pays a higher wage.

C)   hires fewer workers and pays a lower wage.

答案和详解如下：

Q1、The labor market in a specific geographic area consists of one dominant employer and workers who are represented by a union. Compared to the wage rate and quantity of labor employed that would prevail in a competitive market, it is most likely that the outcome will be:

A)   a lower wage rate, but more workers will be hired.

B)   determined by bargaining between the two sides.

C)   a higher wage rate, but fewer workers will be hired.

Correct answer is B)

The wage level and quantity of labor will be determined by bargaining and will likely fall somewhere between the results of employers competing for unionized workers and a monopsonist hiring from a competitive labor pool.

Q2、Compared to the competitive level of employment, a monopsonist employer hiring non-union workers most likely:

A)   hires more workers and pays a lower wage.

B)   hires fewer workers and pays a higher wage.

C)   hires fewer workers and pays a lower wage.

Correct answer is C)

A monopsonist employer hires additional workers up to the point where the marginal cost of an additional worker is equal to that worker’s marginal‘s revenue product. The wage rate and the quantity of labor at that point are both lower than they would be in a competitive labor market.

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