In the above table, if the marginal revenue product is $22, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A) 5; $18
B) 3; $14
C) 4; $22
D) 4; $16
D
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The table above gives information about the economy of France. The growth rate of real GDP per person in 1998 is ________ percent
A) 0.4 B) 3.1 C) 1.9 D) 3.6 E) 4.0
If the government increases aggregate demand when the economy is at both short-run and long-run equilibrium, the full long-run effect of this fiscal policy will be to
A) increase real Gross Domestic Product (GDP). B) increase the price level. C) increase either the real Gross Domestic Product (GDP) or the price level, depending on the length of the time lag. D) decrease both real Gross Domestic Product (GDP) and the price level.
The Depository Institutions Deregulation and Monetary Control Act of 1980 did not
a. require all commercial banks to join the Federal Reserve System. b. expand the use of Fed services to nonmember banks. c. increase FDIC and FSLIC insurance coverage. d. expand the availability of checking accounts.
How will a reduction in the price of cotton influence the market for blue jeans?
a. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the left. b. The cost of producing blue jeans will fall, and the supply curve for blue jeans will shift to the right. c. The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the left. d. The cost of producing blue jeans will rise, and the supply curve for blue jeans will shift to the right.