Wage and MFC differ for a monopsonist because:
A) the monopsonist is forced to pay a wage greater than the worker's MFC.
B) the monopsonist must accept the market wage rate.
C) workers are not as efficient when employed by a monopsonist.
D) any wage increase applies to all workers, not just to the next hired.
Correct Answer:
Verified
Q80: A monopoly is a sole _, and
Q81: Exhibit 11-12 A monopsonist Q82: Exhibit 11-12 A monopsonist Q83: BigBiz, a local monopsonist, currently hires 50 Q84: Suppose a firm can hire 100 workers Q86: Exhibit 11-13 A monopsonist's supply and marginal Q87: Lorna's Lumberyard is a monopsony. Lorna estimates Q88: The MFC curve increases for a monopsonist Q89: Suppose a monopsonist hires its second worker Q90: Explain why a monopsonist's marginal factor cost
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