--%>

Problem on labor monopsonist

Can someone please help me in finding out the accurate answer from the following question.

The labor monopsonist will hire labor up to the point where marginal: (i) Revenue product of the labor equivalents the wage. (ii) Resource cost of the labor equivalents the wage. (iii) Revenue product of labor equivalents its marginal resource cost. (iv) Resource cost of labor equivalents the supply of the labor.

   Related Questions in Microeconomics

  • Q : Perspective of Society with Economic

    By the perspective of society as an entire, in that case land resources are: (w) variable in supply. (x) perfectly elastically supplied. (y) the closest of all resources to generators of pure economic rents. (z) increased through cultivating previousl

  • Q : Determine total revenue by quantity and

    In this demonstrated figure, the total revenue: (w) varies inversely along with price in range b. (x) is minimized at the midpoint of the demand curve. (y) remains unchanged like price changes within range b. (z) will raise as price falls within range

  • Q : Economists conceive of any resource

    Economists can’t conceive of any resource or product for which the: (i) Price elasticity of demand is zero (0) and the demand curve is vertical. (ii) Price elasticity of supply is zero (0) and supply curve is vertical. (iii) Income elasticity of

  • Q : Profits or losses at wholesale price on

    When the wholesale price per bushel of peaches is $9, Cling Peach Orchards would be probably to break even when its peach orchard produced approximately: (i) 2000 bushels of peaches. (ii) 2500 bushels of peaches. (iii) 3000 bushels of

  • Q : Problem on free market economy A) Using

    A) Using appropriate tables and diagrams explain how price and quantity is determined in a free market economy. B) Briefly explain using the diagrams in 4.1 the followings two scenarios C) When

  • Q : Estimating national income by

    Describe precautions to be taken in estimating national income by expenditure technique? Answer: The following precautions are to be taken while evaluating N.I. by

  • Q : Influence of subsidy on good Assume

    Assume that the market for a good is initially in equilibrium, and then the govt. places a subsidy on good. The probable result would be: (i) Raised production and purchases of good. (ii) That buyers would pay big prices for the good. (iii) Extended scarcity of the go

  • Q : Competition in output and resource

    The purely competitive model means that competition in both output and resource markets yields a distribution of income that is proportional to the: (w) numbers of people in specific households. (x) effort and leisure sacrificed throu

  • Q : Barriers to entry in the long run

    Imperfectly competitive firms protected by important barriers to entry are as: (1) assured of positive accounting profits in the short run. (2) almost certain to succeed in collusively fixing prices at high levels. (3) assured of positive economic pro

  • Q : Profit or loss in purely competitive to

    When the wholesale price P = $5 per dozen roses, this purely competitive rose farm maximizes profit through producing ___ dozen roses at a total (loss or profit) of $___. (1) zero; loss; $2000. (2) 2000; loss; $1500.