« previous next »

Author Question: A monopolist union that desired to maximize its total wage bill ( ) would offer that quantity of ... (Read 54 times)

P68T

  • Hero Member
  • *****
  • Posts: 509
on: Jul 1, 2018
A monopolist union that desired to maximize its total wage bill ( ) would offer that quantity of labor for which
 a. labor's marginal productivity is zero.
  b. labor's wage falls to zero.
  c. the quantity of labor hired is as great as possible given the firm's demand curve.
  d. the marginal revenue from providing one more worker to the market is zero.

Question 2

Consider two situations: In situation A the production of widgets is monopolized by a single firm. In situation B the production of widgets is perfectly competitive. In both situations the supply of labor to widget makers is infinitely elastic at a wage of w. Which of the following statements is true?
 a. The marginal value product of labor will be the same in the two cases.
  b. The marginal value product of labor is higher in case B than in case A.
  c. The marginal value product of labor is higher in case A than in case B.
  d. From the information given it is not possible to make a definite statement about the marginal value product of labor.


randomguy133

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black The effective temperature, or black body temperature, of the Sun (5777 K) is the temperature a black
Effects of Living in Total Darkness on Monoaminergic Systems Effects of Living in Total Darkness on Monoaminergic Systems
Percentage of Foreign-Born Whites and Native Whites of Foreign or Mixed Parentage in Total Populatio Percentage of Foreign-Born Whites and Native Whites of Foreign or Mixed Parentage in Total Populatio
Purification of the desired protein by chromatography Purification of the desired protein by chromatography
Total Fitness and Wellness, Brief Edition, 4th Edition Total Fitness and Wellness, Brief Edition, 4th Edition
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
Video: Arthroscopy

For a complete list of videos, visit our video library