A monopsonist hires the amount of labor where the marginal revenue product of labor equals the:
a. price of the monopsonist's product.
b. wage rate.
c. marginal factor cost of labor.
d. marginal product of labor.
c
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If a natural monopoly is allowed to set its price above its average total cost, then
A) the company makes an economic profit. B) the company incurs an economic loss. C) competitors will enter the market. D) the company will produce more than the efficient amount of output.
In 2016, Kendall Ford, an automobile dealership, spent $20,000 on a new car lift for its repair shop, $2,000 on a new copy machine for its sales division, and $600,000 on Ford Motor company stock
Unsold cars and trucks were valued at $400,000 on January 1, 2016 and unsold cars and trucks were valued at $900,000 on December 31, 2016. What is Kendall Ford's total investment spending in 2016? A) $22,000 B) $322,000 C) $522,000 D) $1,022,000
What are the shortcomings of using changes in per capita real GDP to measure economic growth?
What will be an ideal response?
An oligopoly is a market dominated by a few sellers.
Answer the following statement true (T) or false (F)