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 139 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?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Labor and delivery. Labor and delivery.
Testing Infant’s Understanding of Quantity Testing Infant’s Understanding of Quantity
Stages of labor. Stages of labor.
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Iraqi market Iraqi market
Video: Summary of female reproductive cycle days 1-28

For a complete list of videos, visit our video library