A monopolist union that desired to maximize its total wage bill (w ? l) would offer that quantity of labor for which:
a. labor's marginal productivity is zero.
b. labor's wage falls to zero.
c. the quantity of labor hired is as great as possible given the firm's demand curve.
d. the marginal revenue from providing one more worker to the market is zero.
d
You might also like to view...
Third-degree price discrimination occurs when:
A) different groups of consumers are charged different prices. B) consumers are charged different prices at different points of time. C) consumers are charged different prices according to their willingness to pay. D) consumers are charged different prices based on the characteristics of their purchases.
The money supply in an economy increases when, other things equal, _____
a. the government surplus rises b. the amount of government borrowing rises c. tax revenues increase d. government spending increases e. the government deficit falls
Which of the following will be required for a country to move up the income ladder and achieve high-income status?
a. rapid growth of the money supply. b. restrictions limiting the import of goods from other nations, particularly low-wage countries. c. tax incentives that encourage consumption rather than investment d. sustained economic growth
A profit-maximizing monopsonist will hire the quantity of labor where
A. MRP equals zero. B. MRP equals MFC. C. MRP equals the wage rate. D. Labor supply equals labor demand.