a. less than the wage rate because if the monopsonist wants to hire another worker, it has to raise the wage rate, or
b. less than the wage rate because if the monopsonist wants to hire another worker, it has to lower the wage rate, or
c. greater than the wage rate because if the monopsonist wants to hire another worker, it has to raise the wage rate, or
d. equal to the wage rate because if the monopsonist wants to hire another worker, it can do so at the old wage wage.
2007-04-27 14:10:43 · 3 answers · asked by ahhhhmath 2 in Social Science ➔ Economics
Think this one through. Can you get more labor by lowering the price? No. That rules out A and B. As for C and D, that depends upon whether the supply curve for labor is flat or not. Monopsonists have undue market power over the price for a factor, but they cannot set it arbitrarily. One would expect even a monopsonist to have to raise the wage rate.
2007-04-27 14:23:12 · answer #1 · answered by Bjorkmeister 5 · 0⤊ 0⤋
This Site Might Help You.
RE:
The marginal factor cost of labor for a monopsonist is....?
a. less than the wage rate because if the monopsonist wants to hire another worker, it has to raise the wage rate, or
b. less than the wage rate because if the monopsonist wants to hire another worker, it has to lower the wage rate, or
c. greater than the wage rate because if the monopsonist...
2015-08-06 20:00:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
d
2014-02-27 11:46:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The answer my friend is blowing in the wind______ it is also in your book.....look it up.
2007-04-27 14:14:35 · answer #4 · answered by ttpawpaw 7 · 0⤊ 2⤋