--%>

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 : 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 : Problem on competitive equilibrium

    The economy consists of an equal number of smokers (S-types) and asthma sufferers (A-types). Good 1 is cigarettes, good 2 is “other stuff.” S-types have the utility function: xS1 + xS

  • Q : Price elasticity and market power The

    The price elasticity of demand equals one when this firm produces where total revenue is: (i) $72,000 per period. (ii) $80,000 per period. (iii) $96,000 per period. (iv) $100,000 per period. (v) $144,000 per period.

    Q : Occurrence of disagreements between

    Disagreements between economists occur most commonly within the area of: (1) microeconomic theory. (2) normative aspects of economic policy. (3) positive statements. (4) "common sense." (5) mathematical economics. I need your point

  • Q : Economies of scale exist in range of

    Natural monopoly refers to a market or industry in that: (w) economies of scale exist across much of the complete range of market demand. (x) superior management enables a firm to remove its competitors. (y) a firm produces a good protected through pa

  • Q : Increases profits by marginal revenue

    Assuming which marginal revenue equals $4 and marginal cost equals $5, a monopolist could raise profits by: (w) lowering both price and output. (x) increasing both price and output. (y) increasing price and decreasing output. (z) decr

  • Q : C why cotton textile tndustry is a

    why cotton textile tndustry is a microeconomic study

  • Q : Instance of Implicit Costs Can someone

    Can someone help me in finding out the most right answer from the given options. The instance of an implicit cost would be: (i) Salaries paid to the employees. (ii) Payments for repairs on the company-owned machine. (iii) Rent paid on building company utilizations. (i

  • Q : Total revenue maximize by profit

    A profit maximizing monopoly which does not price discriminate will not: (w) produce in the elastic portion of the market demand curve. (x) experience raised total revenue when it reduces the price. (y) equate marginal revenue and mar

  • Q : Define Average Variable Cost Define

    Define Average Variable Cost. And also state its formula.