Multiple Choice
For a firm that is perfectly competitive in the output market but a monopsonist in a particular input market:
A) the price of the final output will exceed the firm's marginal cost of producing output.
B) the price of the final output will be lower than the wage rate.
C) the wage rate will be less than the average cost of labor.
D) the wage rate will be less than the marginal cost of labor.
Correct Answer:
Verified
Correct Answer:
Verified
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