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Author Question: For a monopsonistic hirer of labor, the gap between labor's marginal revenue product and its wage ... (Read 77 times)

Destiiny22

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on: Jul 1, 2018
For a monopsonistic hirer of labor, the gap between labor's marginal revenue product and its wage rate will be greater:
 a. the more elastic the supply curve for labor.
  b. the more inelastic the supply curve for labor.
  c. the more elastic the firm's demand for labor.
  d. the more inelastic the firm's demand for labor.

Question 2

A difference between moral hazard and adverse selection is that
 a. moral hazard deals with pre-contractually determined public information
  b. moral hazard deals with post-contractually determined private information
  c. adverse selection deals with pre-contractually determined private information
  d. adverse selection deals with post-contractually determined public information


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Gabe

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

b


Destiiny22

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

jomama

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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