Multiple Choice
A monopsony's marginal worker has a marginal revenue product of $12 an hour and a wage of $8.A minimum wage of $10 will have which of these effects?
A) decrease the average hourly cost of a worker
B) decrease the marginal hourly cost of a worker
C) increase the marginal revenue product of the marginal worker
D) increase the firm's average profit per worker
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Under what conditions would an employer invest
Q8: Initially,when a firm hires a fourth worker,its
Q9: Explain what is meant by the term
Q10: A quasi-fixed cost of labor is a
Q11: A mandated increase in overtime pay is
Q13: An increase in quasi-fixed costs would probably
Q14: If a worker incurs the entire cost
Q15: A firm employs M workers per week
Q16: Policies that protect workers against "unjust dismissal"
Q17: Suppose that a monopsonist employs 100 workers