Multiple Choice
A monopsonist faces a market labor supply curve w = 20 + L,where w is the wage rate and L is the number of workers employed.If the firm's labor demand curve is w = 200 - 4L,what is the optimal wage rate and quantity of labor employed?
A) w = 50 and L = 30.
B) w = 56 and L = 36.
C) w = 80 and L = 30.
D) w = 104 and L = 32.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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