Author Question: The price index in the base year always equals_____. a. 0 b. 10 c. 100 d. 1 e. ... (Read 46 times)

mynx · **on:** Jun 30, 2018

The price index in the base year always equals_____.
a. 0
b. 10
c. 100
d. 1
e. 0.01

Question 2

Suppose a monopsonist currently employs 100 workers at a wage of 400 per week. If the firm wants to expand employment to 110 workers, and the 110th worker will only work for 450 per week, what is the approximate marginal factor cost of the 110th worker?
a. 450 per week.
b. 5,500 per week.
c. 950 per week.
d. 9,500 per week.
e. 49,500 per week.