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AP Microeconomics
Unit 5 – Factor Markets
Topic 5.4
Suppose a monopsony firm is facing a shortage of skilled workers. What strategy could the firm adopt to attract more skilled workers to the labor market?
Reduce the number of workers hired to balance the shortage.
Decrease the wage rate to increase labor supply.
Implement wage discrimination to target skilled workers.
Offer training programs to enhance workers' skills.
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AP Microeconomics - 5.4 Monopsony Markets
Key terms
Monopsony
Labor Market
Skilled Workers
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
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Practice Quizzes
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Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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