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Author Question: Because the marginal cost of labor curve lies above the labor supply curve, a monopsony will pay a ... (Read 66 times)

luvbio

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on: Jun 29, 2018
Because the marginal cost of labor curve lies above the labor supply curve, a monopsony will pay a wage that is
 
  A) equal to the wage paid in a competitive market.
  B) equal to value of marginal product.
  C) greater than value of marginal product.
  D) less than the wage paid in a competitive market.

Question 2

The above figure shows the demand and supply curves for high-skilled and low-skilled labor. The wage differential between high-skilled and low-skilled labor is
 
  A) 4.00.
  B) 5.00.
  C) 6.00.
  D) 7.00.


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Leostella20

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

D

Answer to Question 2

B


luvbio

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

cam1229

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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