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Author Question: In order to hire an additional worker, a monopsony must pay A) a higher wage rate than it paid ... (Read 158 times)

sam.t96

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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


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Liddy

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


sam.t96

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Reply 2 on: Jun 29, 2018
Excellent

smrtceo

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

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