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 94 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?

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.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Review Bundling, Add-on Codes, and Quantity Edits Review Bundling, Add-on Codes, and Quantity Edits
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
Energy Balance Is Achieved When Energy (Calories) In Equals Energy (Calories) Out Energy Balance Is Achieved When Energy (Calories) In Equals Energy (Calories) Out
If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ... If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Three queens, fertile females in species that have a reproductive division of labor. Three queens, fertile females in species that have a reproductive division of labor.
Video: Blood Flow through the Human Heart

For a complete list of videos, visit our video library