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

Author Question: In order to hire an additional worker, a monopsony must pay A) a higher wage rate than it paid ... (Read 178 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
In order to hire an additional worker, a monopsony must pay
 
  A) a higher wage rate than it paid before.
  B) the same wage rate it paid before.
  C) a lower wage rate than it paid before.
  D) a wage rate that is sometimes higher, sometimes lower, and sometimes the same as before, depending on the elasticity of the supply of labor.

Question 2

Prime Pharmaceuticals has developed a new asthma medicine, for it has a patent. An inhaler can be produced at a constant marginal cost of 2/inhaler.
 
  The demand curve, marginal revenue curve, and marginal cost curve for this new asthma inhaler are in the figure above. With its patent giving it a monopoly for its new inhaler, if it is a single-price monopoly, Prime Pharmaceuticals will produce ________ inhalers and set a price of ________ for each inhaler. A) 16 million; 2
  B) 10 million; 5
  C) 8 million; 6
  D) 8 million; 2


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Liddy

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


sam.t96

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Formation of additional eyes in Drosophila caused by the abnormal expression of a master control gen Formation of additional eyes in Drosophila caused by the abnormal expression of a master control gen
Order and Duration of Sleep Stages Through a Typical Night Order and Duration of Sleep Stages Through a Typical Night
If the gauge reading is now much higher than the first test results, then the cause of the low ... If the gauge reading is now much higher than the first test results, then the cause of the low ...
How to convert units of any rate to another (Part 3) How to convert units of any rate to another (Part 3)
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Homeostasis (range of body conditions, normal limits, mild stresses & severe stresses)

For a complete list of videos, visit our video library