A monopsony maximizes its profit by hiring the level of employment that sets
A) labor supply equal to labor demand.
B) the value of marginal product equal to the wage.
C) the value of marginal product equal to the marginal cost of labor.
D) the value of marginal product equal to the demand for labor.
C
Economics
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Why is GDP only an imperfect valid measure of the value of output produced by an economy?
What will be an ideal response?
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Refer to the figure above. How many units of Good X will be demanded if the government sets a price ceiling of Pc on the good?
A) 0 units B) 10 units C) 25 units D) 35 units
Economics