The marginal labor cost curve for a monopsonist
a. is equal to the supply curve of labor
b. lies above the supply curve of labor
c. lies below the supply curve of labor
d. is affected by the fact that workers are less willing to work than under conditions of perfect competition
e. is lower than the marginal revenue product of labor in equilibrium which assures the monopsonist a return to monopoly power
B
Economics
You might also like to view...
Free trade is ________, because it ________ the size of the pie available to the economy.
A. efficient; decreases B. inefficient; decreases C. inefficient; increases D. efficient; increases
Economics
A firm should shut down in the short run if it s revenue is smaller than its variable costs.
Answer the following statement true (T) or false (F)
Economics