Under monopsony, marginal factor cost is
A. greater than the wage rate.
B. below the wage rate but increases as more workers are hired.
C. equal to the wage rate.
D. downward sloping.
Answer: A
You might also like to view...
"The fewer the number of substitutes for a product, the more elastic the demand for that product." Is the previous statement true or false?
What will be an ideal response?
Personal income and payroll taxes are the largest sources of revenue for the federal government.
a. true b. false
The "ceteris paribus" clause in the law of demand allows which of the following factors to change?
A. consumer tastes and preferences B. prices of other goods C. expectations D. price of the good demanded
A curve where every combination of the two goods being considered yields the same level of satisfaction is known as
A. a marginal utility curve. B. an indifference curve. C. a budget constraint. D. a total utility curve.