Johnson's Piggery is the only employer in town. Johnson employs 500 workers and pays them each a wage of $8 . The MRP of the 500th worker is $10 . Johnson's return to monopsony power is

a. 2 percent
b. equal to the marginal labor cost
c. $4,000
d. $9
e. $1,000


E

Economics

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The slope of a producer's production possibilities frontier represents the producer's

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Based on the table showing a summary of fiscal policy tools, the prescription for high unemployment is ______.


a. increasing aggregate demand through expansionary policy
b. decreasing aggregate demand through contractionary policy
c. increasing income and business tax rates
d. decreasing government transfer payments and purchases

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Why do both developed and less-developed countries protect clothing and textiles heavily?

What will be an ideal response?

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If the price were $5 each, her consumer surplus would be

Table: Demand and Utility Schedules for packs of scented candles


A. $31.
B. $20.
C. $18.
D. $6.

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