A Monopolist Produces a Good Using Only One Factor, Labor

Multiple Choice

A monopolist produces a good using only one factor, labor.There are constant returns to scale in production, and the demand for the monopolist's product is described by a downward-sloping straight line with slope 21.The monopolist faces a horizontal labor supply curve.If the monopolist chooses output to maximize profits, then the marginal

A) cost of labor to the monopolist exceeds the wage.
B) product of labor times the price of output equals the wage.
C) product of labor times the price of output is less than the wage.
D) product of labor times the price of output exceeds the wage.
E) revenue product of labor is less than the wage.