Multiple Choice
When a monopsony hires an additional worker,it must pay the new worker's wages and it bids up the wages of all workers.This fact implies that the monopsony's
A) marginal labor cost is greater than the wage rate.
B) demand curve for labor is perfectly elastic at the going market wage.
C) marginal revenue product of labor is equal to the wage rate.
D) labor usage is greater than that of a firm that is competitive in the labor market.
Correct Answer:
Verified
Correct Answer:
Verified
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