1) First blank the option are ( the same as, below or above) 2) Secound blank (

Question

1) First blank the option are ( the same as, below or above)

2) Secound blank ( 30, 90, & 60)

3) Thred blank the options are ($15, $20, $25 & $30)

4) Four blank the options are($15, $20, $25 & $30)

5 Last blank ( Still exixts or does not always exist)

Undershaft Industries is a monopsonist. The following graph shows the labor supply curve it faces (labeled "S"), its marginal revenue product curve (labeled "MRP"), and its marginal factor cost curve (labeled "MFC"). Undershaft faces an upward-sloping labor supply curve. Therefore, its marginal factor cost (MFC) curve Is its labor supply curve. If Undershaft's workforce is not unionized, Undershaft will hire workers and pay them per hour. Suppose Undershaft Industries work force is unionized. The union is trying to decide what wage to ask for. If It wants to maximize the number of employees that will be hired (that is, the number of employees that will be offered a job and accept it), It should ask for a wage of per hour. You know in general that unions face a tradeoff between wages and employment. This tradeoff_ when the employer is a monopsony.

Explanation / Answer

1. same

2. 60

3. $15

4. $30

5. does not always exists

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