The monopsonist's labor supply curve is the same as the:
a. wage rate.
b. marginal revenue product curve.
c. marginal product curve.
d. market labor demand curve.
e. market labor supply curve.
e
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Answer the following statements true (T) or false (F)
1) A multi-plant firm is a firm with more than one demand curve. 2) Regardless if a multi-plant firm is perfectly competitive or has market power, to maximize profits, managers need to set the overall marginal cost from producing in each of their plants equal to the marginal revenue to find the profit-maximizing total quantity. 3) If the market price for multi-plant, perfectly competitive firm is $4, to maximize its profits, the firm should set the overall marginal cost of production equal to $4. 4) If the market price for multi-plant, perfectly competitive firm is $5, to maximize its profits, the firm should set the overall marginal cost of production to exceed $5. 5) If a multi-plant firm has market power, to maximize profit, it should set a price that exceeds its overall marginal cost.
In the housing market, rents serve the purpose of
A) making landlords rich. B) rationing the availability of existing housing. C) providing an entry by the government into the housing market. D) increasing tax collections by the community.
A firm's marginal revenue product of labor curve is: a. a horizontal straight line at the market wage rate
b. equivalent to its demand for labor curve. c. a vertical line at the market price of the good it produces. d. equivalent to its supply of labor curve.
A large and sudden movement of funds out of a country is called
a. arbitrage. b. capital flight. c. crowding out. d. capital mobility.