In the above figure, the monopsonist will employ
A. L2 at a wage of W3.
B. L1 at a wage of W3.
C. L1 at a wage of W1.
D. L2 at a wage of W2.
Answer: B
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Interdependence of firms is most common in
A) oligopolistic industries. B) monopolistically competitive industries. C) monopolistically competitive and oligopolistic industries. D) monopolistic industries.
If the simple money multiplier is 5, the required reserve ratio must be equal to _____
a. 5 percent b. 0 c. 10 percent d. 50 percent e. 20 percent
The reserve requirement is 0.10. What is the simple deposit multiplier?
A) 2
B) 20
C) 0.2
D) 10
Which of the following changes is not a shifter of the demand for a particular food product?
A. Changes in price of that product. B. Changes in consumer income. C. Changes in relative prices of substitute items. D. Changes in consumer perceptions of that product.