The monopsonist will employ labor to the point at which the
A) marginal factor cost equals the marginal revenue product of labor.
B) marginal revenue product equals the wage rate.
C) marginal cost of output equals the marginal revenue.
D) demand equals the supply of labor.
A
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When an exchange-rate crisis befalls a pegged currency, experience suggests that damage to the economy may be minimized by ________
A) appealing to creditors to provide more liquidity B) rapid adoption of a currency board C) abandoning the peg D) launching speculative counter-attacks
When the prisoners follow their dominant strategy and confess, they will be worse off than if both had remained silent—hence, the "prisoners' dilemma."
a. True b. False Indicate whether the statement is true or false
Suppose a monopolist charges a price of $27 for its product and sells 10 units at that price. At 10 units of production the firm has average fixed cost equal to $10 and average variable cost equal to $12 . How much total profit is the firm earning at this price?
a. $5 b. $25 c. $50 d. $140
What are likely factors that have contributed the rapid increase in population from 1800 to today?
What will be an ideal response?