Multiple Choice
Which of the following statements is true in regarding to the marginal cost of labour?
A) shows the increase in revenue received by the firm if it hires one more worker.
B) is derived from the marginal revenue product curve.
C) is the same as the supply curve of labour for a monopsonist.
D) is horizontal for a perfectly competitive firm but is downward sloping for a monopsonist.
E) is equal to the wage paid if the firm is a monopsonist.
Correct Answer:
Verified
Correct Answer:
Verified
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