This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In a monopsony labor market, the employer hires the quantity of labor where the ________ equals the ... (Read 138 times)

2125004343

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
In a monopsony labor market, the employer hires the quantity of labor where the ________ equals the ________.
 
  A) marginal revenue of labor; marginal cost of labor
  B) marginal cost of labor; marginal product of labor
  C) marginal product of labor; value of marginal product of labor
  D) marginal cost of labor; value of marginal product of labor

Question 2

What is a normal profit? Is it part of the firm's opportunity costs, total revenue, or neither?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mathjasmine

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The normal profit is the return to entrepreneurship. It is part of the firm's opportunity costs.


2125004343

  • Hero Member
  • *****
  • Posts: 566
Reply #2 on: Jun 29, 2018
Correct answers!


mathjasmine

  • Sr. Member
  • ****
  • Posts: 312
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Stages of Labor Stages of Labor
Review Bundling, Add-on Codes, and Quantity Edits Review Bundling, Add-on Codes, and Quantity Edits
The Stages of Labor and Birth in a Vaginal Delivery The Stages of Labor and Birth in a Vaginal Delivery
Labor Labor
Stock Market Question Stock Market Question
If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ... If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ...
Video: Integumentary Anatomy

For a complete list of videos, visit our video library