Everything else held constant, if aggregate output is to the ________ of the IS curve, then there is an excess ________ of goods which will cause aggregate output to rise

Aggregate income equals:

a. total profits. b. aggregate output. c. aggregate expenditure. d. b and c. e. all of the above.

Use the above table. If the marginal revenue product is $20, how many workers will the profit maximizing monopsonist hire?

A) 1 B) 2 C) 3 D) 4