All economists assert that the National Collegiate Athletic Association (NCAA) is a type of cartel that enforces the monopsony behavior of universities and colleges in the market for college athletes.
12.Some economists contend that the National Collegiate Athletic Association (NCAA) imposes its rules and regulations to keep college sports nonprofessional and in relatively high demand.
13.The total wage bill of a union will be maximized when the elasticity of demand for labor is unit elastic.
14.In 18th century England, higher wages of weavers appears to have led to the invention of the power loom.
15.As long as there are advancements in technology, some workers will be temporarily displaced.
16.In the case of a monopsony, higher wage rates (over some range) do not necessarily imply fewer persons working.
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