--%>
Assignment Help - homework help

Monopsonist-marginal resource cost

Can someone please help me in finding out the accurate answer from the following question. The monopsonist will hire the labor until labor's marginal resource cost equivalents the: (i) Marginal revenue product of the labor. (ii) Marginal physical product. (iii) Value of the average product of labor. (iv) Price of the labor.

   Related Questions in Microeconomics

  • Q : Market Power and Demand for Labor All

    All of the given might causes labor markets to be non-competitive except: (i) Backward bending labor supply curves. (ii) Unions and employer trade associations. (iii) Monopolistic power exercised by the firm. (iv) Monopsonistic power exercised by the

    		•
  • Q : Define abnormal profit Abnormal profit:

    Abnormal profit: It is the gain earned over and above the normal profit.

    		•
  • Q : Substitution effects resulting from

    The Law of Demand mainly relies heavily on the: (1) Buying power consequences of relative price modifications. (2) Substitution effect resultant from the relative price changes. (3) Increase in opportunity costs as income is worn out. (4) Principle of the non satiety.

    		•
  • Q : Difficulty of competitive firms to

    Competitive firms determine this difficult to exploit consumers as: (w) consumer boycotts generate bad publicity. (x) market distributions of products are uniformly fair. (y) government price ceilings equivalent opportunity costs. (z) prices that exceed costs attract

    		•
  • Q : Problem Based on Economic Rent Location

    Location or site rents are as: (w) unrelated to the geographic location of a firm in a market. (x) determined from the fertility of land. (y) generated while a firm’s location allows this to charge more for its output or to pay less for its inpu

    		•
  • Q : Discourage the formation of oligopolies

    A factor tending to discourage the formation of huge oligopolies in the past two or three decades would be: (w) vigorous enforcement of anti merger laws. (x) technological advances which tended to favor smaller companies. (y) computerized internal inf

    		•
  • Q : Marginal Productivity Theory of Income

    The income distribution into a market economy is primarily found by differences within: (1) effort and sacrifice alone. (2) resource ownership and resource prices. (3) birth and social standing. (4) Lorenz coefficients. (5) political

    		•
  • Q : Define Product Differentiation Product

    Product Differentiation: The Product differentitation is a condition when various producers under monopolistic competition, try to differentiate their product in terms of its size, shape, packaging, trade-mark and brand name. This is accomplish to att

    		•
  • Q : Effect of percentage change in price

    Give the answer of following question. When the percentage change in price is greater than the resulting percentage change in quantity demanded: A) a decrease in price will increase total revenue. B) demand may be either elastic or inelastic. C) an increase in price

    		•
  • Q : Bilateral Monopoly problem I have a

    I have a problem in economics on Bilateral Monopoly problem. Please help me in the following question. The bilateral monopoly is in operation when: (1) The firm is mere employer of some labor force and a union is the mere supplier of the labor for tha

    		•