If the marginal revenue product of the fifth worker is $15, the price of the last unit of output produced is $5, and the firm sells as a price searcher, then the marginal product of the fifth worker is

In the situation involving a bilateral monopoly, a

A) single firm acts as both the monopsonist and the monopoly. B) single seller sells to a single buyer. C) monopsonist sells to a monopsonist. D) monopolist sells to a monopolist.

A worker would be hurt least by inflation when the: a. worker anticipates inflation and increases savings at the bank

b. worker is protected by a cost-of-living adjustment clause in an employment contract. c. the price level increases but at a decreasing rate. d. worker is protected by fixed annual increases in wages and benefits in an employment contract. e. government increases the level of social security retirement benefits to correct for the effects of unanticipated inflation.