The price index in the base year always equals_____. a. 0 b. 10 ...

[mynx]

The price index in the base year always equals_____.
 a. 0
 b. 10
 c. 100
 d. 1
 e. 0.01

Question 2

Suppose a monopsonist currently employs 100 workers at a wage of 400 per week. If the firm wants to expand employment to 110 workers, and the 110th worker will only work for 450 per week, what is the approximate marginal factor cost of the 110th worker?
 a. 450 per week.
  b. 5,500 per week.
  c. 950 per week.
  d. 9,500 per week.
  e. 49,500 per week.

[kaillie]

Answer to Question 1

c

Answer to Question 2

c

[mynx]

YES! Correct, THANKS for helping me on my review

[jamesnevil303]

Thanks for the timely response, appreciate it