A Cournot duopoly firm's labor demand curve
A) lies below that of a monopoly.
B) lies above that of a monopoly but below that of a competitive firm.
C) lies above that of a competitive firm.
D) is tangent to the labor demand curve of a monopoly.
B
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Refer to the labor market diagram where D is the labor demand curve, S is the labor supply curve, and MRC is the marginal resource (labor) cost curve. If this were a monopsonistic labor market, the equilibrium wage rate and level of employment would be:
A. $5 and 3 respectively.
B. $6 and 4 respectively.
C. $7 and 5 respectively.
D. $8 and 3 respectively.
Refer to the information provided in Figure 13.2 below to answer the question(s) that follow. 
Figure 13.2 Refer to Figure 13.2. The marginal revenue of the fourth pound of cheese is
A. $1. B. $3. C. $6. D. $24.