If a monopsony must negotiate with a union, then the wage will ...

[Themember4]

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

[vboyd24]

Answer to Question 1

D

Answer to Question 2

C

[Themember4]

Thank you

[vboyd24]

Happy to help you