Exhibit 11-14 Labor cost data for a monopsonist $$\begin{array} { | c | c | }
\hline \text { Wage Rate } & \begin{array} { c }
\text { Number of } \
\text { Workers }
\end{array} \
\hline \$ 0 & 0 \
5 & 10 \
8 & 20 \
12 & 30 \
16 & 40 \
\hline
\end{array}$$
-In Exhibit 11-14, when the monopsonist hires 30 workers, total wage cost is:

Question

Exhibit 11-14 Labor cost data for a monopsonist $$\begin{array} { | c | c | } 
\hline \text { Wage Rate } & \begin{array} { c } 
\text { Number of } \
\text { Workers }
\end{array} \
\hline \$ 0 & 0 \
5 & 10 \
8 & 20 \
12 & 30 \
16 & 40 \
\hline
\end{array}$$
-In Exhibit 11-14, when the monopsonist hires 30 workers, total wage cost is:

Quizplus · Accepted Answer

The total wage cost is calculated by multiplying the wage rate by the number of workers: $12 * 30 = $360.

Exhibit 11-14 Labor Cost Data for a Monopsonist -In Exhibit 11-14, When the Monopsonist Hires 30 Workers, Total