In equilibrium, the monopsonist's labor demand will
A. Be greater than the marginal factor cost.
B. Exceed labor supply.
C. Equal labor supply.
D. Be less than the marginal factor cost.
Answer: B
You might also like to view...
The table above gives the demand schedule for museum visits
a. You, as the resident economist, have been given the task of maximizing the museum's total revenue. What admission price should you charge? b. What is the elasticity of demand between $6 and $4? c. Moving along the demand schedule from $10 to $8 to $6 and ultimately to $4, how does the price elasticity of demand change in size?
Which of the following securities has the greatest risk?
a. commercial paper b. corporate bonds c. corporate common stocks d. U.S. Treasury bills e. state and local government bonds
If checkable deposits rise, it follows that the
A) required reserve ratio will fall. B) dollar amount of reserves will rise. C) dollar amount of vault cash will rise. D) required reserve ratio will rise. E) none of the above
Which of the following is true for the agriculture market?
A. Individual farmers face a vertical demand curve. B. The law of demand does not apply. C. Individual farmers face a horizontal demand curve. D. Farmers have market power.