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:
Verified
Correct Answer:
Verified
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