Question

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49. If immigrant workers are complementary to n dive workers, then A. native workers will be better off with open orders. B. immigrant workers will receive a higher we athan native workers. C. immigration will shift the demand for native abor to the left D. there will be no immigration surplus. E. each firm will hire only immigrants or only ne ives but not a mixture of the two. 50. A perfectly discriminating monopsonis A. pays the equilibrium wage to all workers. B. pays each worker his or her reservation wage. C. receives zero profit in the long run. D. disregards minimum wage laws. E. faces an increasing value of marginal product curve.

Answer 1

49) If immigrant workers and native workers are complements, then both type of workers are hired more together. Immigration will increase the demand for native workers. Therefore, native workers would be better with open borders. Option a) is true.

50) A perfectly discriminating monopsonist pays each of the workers their reservation wage, the wage at which the worker is indifferent between working and not working. Option b) is correct.

42) A profit-maximising monopsonist hires fewer workers and gives them lower wage than they would in perfectly competitive market. Option d) is correct.

40) Lorenz curve shows the cumulative share of income earned by each quintile of households. Option e) is correct.