A monopsonist's marginal factor cost (MFC) curve lies above its supply curve because the firm must:
a. lower the factor price to hire more.
b. increase the price of its product to sell more.
c. increase the factor price to hire more.
d. lower the product price to sell more.
c
Economics
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Prices that adjust slowly to their long-run equilibrium ________
A) help the economy to avoid economic fluctuations B) call for policies that focus on short-run fluctuations C) are conducive to maintaining low inflation D) all of the above E) none of the above
Economics
Marginal propensity to save (MPS) is equal to:
a. 1 - MPC. b. MPC - 1. c. MPC + 1. d. 1/MPC
Economics