Multiple Choice
A monopsony can hire one worker at a wage of $5,two workers at a wage of $6 each,three workers at $7 each,and so on (each added worker adding one dollar to the wage rate) .If the marginal revenue product for all workers is $16,what wage will it pay?
A) $10
B) $11
C) $16
D) $17
Correct Answer:
Verified
Correct Answer:
Verified
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