Schleppsi, a soft drink maker, is a monopsonist in the county where it manufactures all of the Diet Schleppsi it produces. Suppose the current daily labor cost to the firm is $35,000 with 99 workers and the total wage cost with 100 workers would be $36,000 . What will the market wage be if Schleppsi hires the 100th worker?

The Robinson-Patman Act amended and further refined which of the following laws?

a. the Sherman Antitrust Act b. the Cellar-Kefauver Act c. the Clayton Act d. the FTC Act e. the Herfindahl-Hirschman Act

Refer to the diagram. If a firm produces output Q 1 at a unit cost of c, then the:

A.  firm is operating in a purely competitive industry.
B.  firm is maximizing profits.
C.  marginal product per dollar's worth of each resource employed is not the same.
D.  firm is fulfilling the least-cost rule in employing resources.