For a monopsony buyer of an input, the marginal expenditure curve ...

[B]

For a monopsony buyer of an input, the marginal expenditure curve
 
  A) lies above the average expenditure curve.
  B) lies below the average expenditure curve.
  C) is identical to the average expenditure curve.
  D) lies below the input demand curve.

Question 2

A logarithmic variable cost function implies that
 
  A) marginal cost is increasing at a decreasing rate.
  B) marginal cost is increasing at an increasing rate.
  C) marginal cost is constant.
  D) marginal cost is decreasing as quantity increases.

[tuwy]

Answer to Question 1

A

Answer to Question 2

A