A monopsonist's marginal factor cost (MFC) curve lies above its supply curve because the firm must:
a. lower the factor price to hire more.
b. increase the price of its product to sell more.
c. increase the factor price to hire more.
d. lower the product price to sell more.
c
You might also like to view...
The following Phillips curve of would be consistent with the _____ model(s)
a. Keynesian. b. monetarist. c. monetarist and classical. d. classical. e. None of the above
When a country's real GDP is increasing at a faster rate than its population,
What will be an ideal response?
Choice architects are likely to make program participation:
A. the status quo in order to entice high enrollment. B. the default rule if they want low enrollment. C. lower, even if they frame it positively. D. the default rule if they want high enrollment.
If, as a person consumes more and more of a good, each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings of
A) the law of demand. B) the law of supply. C) the law of increasing marginal opportunity cost. D) the law of diminishing marginal utility.