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

Author Question: Because the marginal cost of labor curve lies above the labor supply curve, a monopsony will pay a ... (Read 100 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
on: Jun 29, 2018
Because the marginal cost of labor curve lies above the labor supply curve, a monopsony will pay a wage that is
 
  A) equal to the wage paid in a competitive market.
  B) equal to value of marginal product.
  C) greater than value of marginal product.
  D) less than the wage paid in a competitive market.

Question 2

The above figure shows the demand and supply curves for high-skilled and low-skilled labor. The wage differential between high-skilled and low-skilled labor is
 
  A) 4.00.
  B) 5.00.
  C) 6.00.
  D) 7.00.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Leostella20

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


luvbio

  • Member
  • Posts: 623
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

The role of the liver in fuel supply to the blood. The role of the liver in fuel supply to the blood.
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
An Environmental Kuznets Curve An Environmental Kuznets Curve
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
An educational institution has total direct labor and material costs of $1964 per student. Its ... An educational institution has total direct labor and material costs of $1964 per student. Its ...
A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her
Video: Random alignment at Metaphase I Animation

For a complete list of videos, visit our video library