In a monopsony labor market, the employer hires the quantity of labor where the ________ equals the ________
A) marginal revenue of labor; marginal cost of labor
B) marginal cost of labor; marginal product of labor
C) marginal product of labor; value of marginal product of labor
D) marginal cost of labor; value of marginal product of labor
D
Economics
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How a supply curve is sloped and located is affected by:
A) consumer preferences. B) resource prices. C) the number of consumers. D) all of the above.
Economics
The minimum efficient scale is
A) the plant size that yields the most profit. B) the smallest output level where the firm finally reaches productive efficiency. C) the level of operation where long-run average costs are lowest. D) the level of output where diminishing returns have not set in yet.
Economics