« previous next »

Author Question: A monopolist union that desired to maximize its total wage bill ( ) would offer that quantity of ... (Read 46 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?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive When Union troops pushed toward Richmond in June of 1862, these slaves crossed the Rappahannock Rive
Bill Viola. Room for St. John of the Cross. 1983. Bill Viola. Room for St. John of the Cross. 1983.
Bill Viola, The Reflecting Pool. Bill Viola, The Reflecting Pool.
Vertical filing systems offer an alternative to traditional upright storage systems Vertical filing systems offer an alternative to traditional upright storage systems
Types of ecosystem service vs. total global value per year Types of ecosystem service vs. total global value per year
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Cerebral Cortex Animation

For a complete list of videos, visit our video library