If you know the price of a monopsonist's output and the marginal physical product of labor, what else do you need to know in order to calculate the return to monopsony power?
a. d and e
b. c, d, and e
c. marginal labor cost
d. wage rate
e. number of workers
A
You might also like to view...
Consider two countries: A and B. In country A, the annual growth rate of GDP per capita is 2%, while in country B the annual growth rate of GDP per capita is 6%. At present, country B's GDP per capita is higher than country A's GDP per capita
Which of the following statements will then be true? A) The gap between country A's GDP per capita and country B's GDP per capita will decrease for the first few years and then will increase later. B) The gap between country A's GDP per capita and country B's per capita will decrease over time. C) The gap between country A's GDP per capita and country B's per capita will widen over time. D) The gap between country A's GDP per capita and country B's per capita will remain the same.
Refer to the scenario above. In the dominant strategy equilibrium, the payoff to Firm B is ________
A) $1.2 million B) $3.0 million C) $2.5 million D) $2 million
The production of steel in a factory generates a negative externality. A per-unit tax on the factory that equals ________ of steel production will internalize the externality entirely
A) the marginal private cost B) the marginal social cost C) the marginal external cost D) the marginal external benefit
If real GDP in a small country in 2015 is $8 billion and real GDP in the same country in 2016 is $8.3 billion, the growth rate of real GDP between 2015 and 2016
A) is 3.0%. B) is 3.6%. C) is 3.75%. D) cannot be determined from the information given.