A monopsonist firm pays a price to a factor that is:
a. equal to the marginal revenue product of the factor.
b. greater than the marginal revenue product of the factor.
c. equal to the marginal factor cost.
d. greater than the marginal factor cost.
e. less than the marginal revenue product of the factor.
e
Economics
You might also like to view...
A decrease in the demand for beef because of concerns over cholesterol results in
A) lower beef prices. B) higher beef prices. C) an increase in the supply of beef. D) an offsetting increase in the demand for beef if the price of beef falls.
Economics
The intersection of the x axis and the y axis is called the
A) "meeting point." B) origin. C) "zero" point. D) corresponding point.
Economics