Suppose a monopsonist currently employs 100 workers at a wage rate of $400 per week. If the firm wants to expand employment to 110 workers, and the 110th worker will only work for $450 per week, what is the marginal labor cost of the 110th worker?
a. $450 per week
b. $5,500 per week
c. $950 per week
d. $9,500 per week
e. $49,500 per week
C
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