Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?

Monopsony firms will hire more workers than they would if the labor market were competitive

Indicate whether the statement is true or false

Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per DayNumber of MinersMother Lode10025Scraping Bottom3010Middle Drift7515 The opportunity cost of moving one miner from Mother Lode to another mine is:

A. 3 tons per day. B. 4 tons per day. C. 1 ton per day. D. 2 tons per day.