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.
Answer: C
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In the Great Depression, investment spending fell by ________
A) nine-tenths of one percent B) nine percent C) ninety percent D) nine hundred percent
Which of the following will occur as the price of a good decreases?
A) The demand curve for that good will shift to the left. B) The demand curve for that good will shift to the right. C) The quantity demanded for that good will increase. D) Demand for that good will increase.
Which of the following is an example of the "metering" strategy
a. A doll company selling dolls at cost but charging high margins on doll accessories b. A cell phone company offers free locked in phones but charges high prices per call c. A catering company pays its chefs higher wages to make sure that the bargain meals are just slightly burnt d. Only A&B
A brand name can affect a firm's
A) price elasticity of demand B) average total cost curve C) normal profit D) balance sheet