Bob's Baubles, Inc, sells its product for 3 each in a perfectly competitive market. If it increases its workforce from 1,000 to 1,001, its output goes from 615 to 625 per day. Bob should hire the 1,001st worker only if:
a. the wage is more than 30 per day.
b. the wage is 30 or less per day.
c. the wage is less than 10 per day.
d. the wage is less than 3 per day.
Question 2
Successive monopolies face the problem of:
a. double marginalization.
b. volumetric interdependence.
c. opportunism.
d. predatory pricing.
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