Solved

Suppose the Demand Faced by a Labor Monopsony Is W

Question 87

Multiple Choice

Suppose the demand faced by a labor monopsony is W = 40,000 - 100l, where W is the annual wage and L is the number of workers hired. The labor supply is given by W = 10,000 + 100l. The monopsonist would pay a wage of $____.


A) 40,000
B) 30,000
C) 20,000
D) 10,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions