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-(Exhibit: Minimum Wage and Monopsony) in the Absence of a Minimum

Question 88

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-(Exhibit: Minimum Wage and Monopsony) In the absence of a minimum wage, the monopsony firm in the exhibit would maximize profits by hiring _______ units of labor per period, and setting the wage at _______ . A) L<sub>1</sub>; $35 B) L<sub>1</sub>; $20 C) L<sub>2</sub>; $30 D) L<sub>3</sub>; $50
-(Exhibit: Minimum Wage and Monopsony) In the absence of a minimum wage, the monopsony firm in the exhibit would maximize profits by hiring _______ units of labor per period, and setting the wage at _______ .


A) L1; $35
B) L1; $20
C) L2; $30
D) L3; $50

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