A monopsonist facing many suppliers of labor will employ:
A. fewer workers than a firm operating in a perfectly competitive labor market.
B. an indeterminate number of workers.
C. more workers than a firm operating in a perfectly competitive labor market.
D. the same number of workers as a firm operating in a perfectly competitive labor market.
Answer: A
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What will be an ideal response?
The table in the above figure shows the levels of output resulting from different levels of inputs. At which level of input are there constant returns to scale?
A) 400-600 units B) Constant returns to scale exist throughout all levels of production. C) Constant returns to scale do not exist at any level of production. D) No firm conclusions can be drawn.