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Author Question: If a monopsony must negotiate with a union, then the wage will probably be A) more than the value ... (Read 145 times)

Themember4

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on: Jun 29, 2018
If a monopsony must negotiate with a union, then the wage will probably be
 
  A) more than the value of marginal product.
  B) more than the marginal cost of labor.
  C) the same as if there had been no union.
  D) more than what it would have been without a union but not more than the value of marginal product.

Question 2

In the figure above, the elasticity of demand facing the monopoly equals one when it produces ________ units of output.
 
  A) h
  B) j
  C) k
  D) none of the above


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vboyd24

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Themember4

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Reply #2 on: Jun 29, 2018
Thank you :)


vboyd24

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Reply #3 on: Jun 29, 2018
Happy to help you


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