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, the additional labor cost per 10 workers hired when the monopsonist goes from 10 to 20 workers 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, the additional labor cost per 10 workers hired when the monopsonist goes from 10 to 20 workers is:

Quizplus · Accepted Answer

The additional labor cost is calculated by finding the difference in total wages paid when increasing from 10 to 20 workers. At 10 workers, the total wage cost is $5 * 10 = $50. At 20 workers, it is $8 * 20 = $160. The additional cost is $160 - $50 = $110.

Exhibit 11-14 Labor Cost Data for a Monopsonist -In Exhibit 11-14, the Additional Labor Cost Per 10 Workers