The last worker hired at a competitive firm has a value of marginal product of $17 and he is paid the market wage of $15.The firm could __________ by __________.
A) reduce losses;hiring fewer workers
B) increase profit;hiring more workers
C) reduce losses;hiring more workers
D) increase profit;hiring fewer workers
E) maximize profit;hiring more workers
Correct Answer:
Verified
Q25: For a monopsonist,the wage rate is
A) greater
Q26: The amount by which labour cost rises
Q27: A market with a single buyer is
Q28: Susan is a labour market monopsonist.The labour
Q29: The marginal product of the 14th worker
Q31: Marginal product is a measure of the
Q32: Monopsony is a
A) market structure with a
Q33: A monopsonist is able to
A) pay the
Q34: Marginal labour cost is
A) identical to the
Q35: In many cases,labour represents 70% of all
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