Refer to the labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If this were a monopsonistic labor market, the equilibrium wage rate and level of employment would be:
A. $5 and 3 respectively.
B. $6 and 4 respectively.
C. $7 and 5 respectively.
D. $8 and 3 respectively.
A. $5 and 3 respectively.
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A) Major Kwame Kilpatrick in Detroit B) President Bill Clinton in the U.S C) Governor Sarah Palin in Alaska D) All of the above. E) None of the above.
A person has a comparative advantage in an activity whenever he or she
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A commitment
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