The difference between the marginal expenditure and the wage is greater when the supply curve of labor is
A) less elastic at the monopsony optimum.
B) more elastic at the monopsony optimum.
C) more elastic than the demand curve.
D) The difference does not depend on any elasticity.
A
Economics
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Marginal revenue for a perfectly competitive firm equals: a. the addition to total cost from producing one more unit of output. b. average revenue at all levels of output
c. marginal cost at all levels of output. d. average total cost at all levels of output.
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In defining money according to the transactions approach, you would want to include
A. those assets that are used as a medium of exchange. B. those assets that are used as a standard of deferred payment. C. those assets that are used as a store of value. D. those assets that are used as a unit of account.
Economics