The supply curve that monopsonists face is different from thesupply curves that
ID: 1240555 • Letter: T
Question
The supply curve that monopsonists face is different from thesupply curves that firms in competitive labor markets face becausewith a monopsony,
A)the employer faces the market supply curve.
B)the supply curve of labor is relatively flat.
C)offering a wage lower than the market wage means having noworkers.
D)d and e.
E)the firm does not take the wage as given.
6.
A competitive car wash currently hires 4 workers, who togethercan wash 80 cars per day. The market price of car washes is $5 perwash, and the price of workers is $60 per day. The car wash shouldhire a fifth worker if it would increase total production to atleast:
A)92 cars per day.
B)110 cars per day.
C)104 cars per day.
D)100 cars per day.
7.
The long run is a period of time:
A)that is long enough to permit changes in all the firm's inputs,both fixed and variable.
B)in which production occurs beyond one year.
C)in which production occurs beyond five years.
D)that is too short to change the size of a firm's plant.
8.
An example of price discrimination is the price charged for:
Explanation / Answer
The supply curve that monopsonists face is different from thesupply curves that firms in competitive labor markets face becausewith a monopsony,
A)the employer faces the market supply curve.
B)the supply curve of labor is relatively flat.
C)offering a wage lower than the market wage means having noworkers.
D)d and e.
E)the firm does not take the wage as given.
6.
A competitive car wash currently hires 4 workers, who togethercan wash 80 cars per day. The market price of car washes is $5 perwash, and the price of workers is $60 per day. The car wash shouldhire a fifth worker if it would increase total production to atleast:
A)92 cars per day.
B)110 cars per day.
C)104 cars per day.
D)100 cars per day.
7.
The long run is a period of time:
A) that is longenough to permit changes in all the firm's inputs, both fixed andvariable.
B)in which production occurs beyond one year.
C)in which production occurs beyond five years.
D)that is too short to change the size of a firm's plant.
8.
An example of price discrimination is the price charged for:
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.