True/False
In a monopsonistic input market the marginal cost of another unit of an input is greater than its price because it is assumed that the firm has to pay a higher price to get an additional unit of input per time period.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q10: If more than one input is variable
Q11: The marginal revenue product of input a
Q12: A firm has the following short run
Q13: Monopsony is the label we attach to
Q14: Suppose that the total product of labor
Q16: In a monopsonistic input market, the firm
Q17: When the price of an input is
Q18: If the price of an input is
Q19: The increase in the firm's total cost
Q20: The marginal cost of an input is