For a monopsonist, the labor supply curve is upward sloping because
A) the monopsonist must compete with other industries for that labor.
B) the monopsonist requires that the laborers are highly skilled.
C) the monopsonist is the only buyer in that labor market.
D) the monopsonist restricts the supply of labor.
C
Economics
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In a long-run equilibrium, the marginal firm has
a. price equal to minimum marginal cost. b. total revenue equal to total cost. c. accounting profit equal to zero. d. All of the above are correct.
Economics
If price is above average total costs, the firm
A) is earning positive profits. B) is earning negative profits. C) is making a normal rate of return on its capital investment. D) may be earning a positive or negative profit depending upon costs.
Economics