Under monopsony, the marginal factor cost of a worker is equal to
A) the additional worker's wage rate only.
B) the additional worker's wage rate plus the increase in the wages of all other existing workers.
C) the increase in the wages of all other existing workers.
D) the difference between the worker's wage rate and the lower wage rate received by workers who have already been hired.
B
Economics
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The velocity of money can best be described as
A) how quickly prices are increasing. B) how quickly output is increasing. C) the number of times each dollar in the money supply is used to buy goods and services included in GDP. D) the growth rate of the money supply.
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The exclusive privilege to use an asset is called a(n)
A) property right. B) exclusive use agreement. C) property privilege. D) right to work privilege.
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