Multiple Choice
The monopsonist's marginal input cost is greater than its average input cost because:
A) the firm must increase the price it is willing to pay,to increase employment of an input.
B) the monopsonist does not have discretion over the price of the input.
C) the marginal revenue product of labor increases as the number of workers hired increases.
D) the monopsonist faces a downward-sloping input demand curve.
Correct Answer:
Verified
Correct Answer:
Verified
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