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Suppose the Demand Faced by a Labor Monopsony Is W

Question 6

Multiple Choice

Suppose the demand faced by a labor monopsony is W = 20,000 - 50l, where W is the annual wage and l is the number of workers hired. The labor supply is given by W = 5,000 + 75l. How many workers will the firm hire?


A) 50
B) 75
C) 60
D) 80

Correct Answer:

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