If the labor market is competitive, a monopoly output market will result in
A) a lower wage than that of a competitive output market.
B) a higher wage than that of a competitive output market.
C) less labor hired than in a competitive output market.
D) more labor hired than in a competitive output market.
C
Economics
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The law of supply states that there is
A) an inverse relationship between price and technology, ceteris paribus. B) a direct relationship between profit and quantity supplied, ceteris paribus. C) no relationship between price of resources and number of suppliers, ceteris paribus. D) a direct relationship between price and quantity supplied, ceteris paribus.
Economics