Use the above table. If the marginal revenue product is $10, how many workers will the profit maximizing monopsonist hire?
A. 1
B. 2
C. 3
D. 4
Answer: A
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Which of the following statements about the FDIC is untrue?
a. It sets the legal reserve requirement. b. It conducts bank audits and examinations. c. It provides demand deposit insurance for participating banks. d. It helps prevent bank failures. e. It is a government agency.
Figure 10.4 Federal Surplus or Deficit as a Percent of GDP
What will be an ideal response?
Which of the following is an example of an activity with an external cost?
A. Speeding on the interstate. B. Having to buy batteries for the new remote that came with a TV. C. Keeping your front yard clean. D. Raising honeybees where neighbors on all sides grow apples.
Which of the following is NOT an example of an externality?
A. The neighbor's wind chimes interfere with your sleep. B. A firm lays off 100 workers. C. Cancer-causing chemicals are dumped into the drinking water supply of a city. D. A cookie company emits a wonderful aroma in the air that makes people smile.