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Author Question: In a monopsony labor market, the employer hires the quantity of labor where the ________ equals the ... (Read 72 times)

2125004343

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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?


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mathjasmine

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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

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Reply #2 on: Jun 29, 2018
Correct answers!


mathjasmine

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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