A monopolist dealing with a competitive it is provided of labor a. Is employing the mix of sources that enables it come produce any type of given output in the least costly way when the marginal product of every resource is ____________ by its marginal resource cost equal to __________.


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Real wages would decrease if the a.prices that goods and also services rose an ext rapidly than nominal-wages ratesb.prices of goods and services rose less rapidly 보다 the nominal-wage ratesc.prices that goods and services and wage prices both rosed.prices of goods and also services and wage prices both fell
The an easy explanation because that high real wages in the unified States and other industrially progressed economies is that thea.price levels of those nations have actually increased in ~ a faster rate 보다 nominal wagesb.governments in those nations have imposed reliable minimum-wage legislations to enhance the conditions of laborc.the need for job in those countries is rather high family member to the it is provided of labord.the it is provided of labor in those countries is quite big relative come the need for labor
T properties of a purely competitive labor sector would bea.firms rental different species of laborb.workers giving labor under a union contractc.wage taker behavior by firmsd.price an equipment behavior by firms
The it is provided curve for job in a completely competitive industry is increase sloping because thea.opportunity prices for employees riseb.marginal source cost is constantc.wage price paid to employees fallsd.marginal revenue product rises
the individual firm that hires labor under purely competitive problems faces a supply curve for labor thata.is perfect inelasticb.is of unitary elasticc.is perfectly elasticd.slopes upward from left come right
which is a characteristics of a monopsonist?a.the type of job is reasonably mobileb.the it is provided curve is the Marginal revenue cost curvec.there are plenty of buyers that a specific kind the labord.the wage rate it should pay employees varies directly with the variety of workers it employs
A monopsonist payment a wage price that is a.greater 보다 the marginal revenue product that laborb.equal to marginal product the laborc.equal to the firm\"s marginal job costd.less than marginal revenue product of labor
If a for sure employs resources in imperfectly vain markets, to max the profits, the marginal revenue product of each source must equala.its marginal productb.its marginal source costc.its priced.1
Compared with a purely competitive job market, a monopsonistic sector will an outcome ina.higher wage prices and greater level the employmentb.higher wage rates and a lower level of employmentc.lower wage prices and higher level the employmentd.lower wage rates and also lower level that employment
The monopsonistic labor sector for registered nurses that would certainly be found in a smaller sized city with two hospitals would certainly lead toa.lower starting salariesb.higher beginning salariesc.more employment opportunitiesd.greater demand for education services
Higher wage rates and a higher level that employment because that workers room the usual consequences ofa.inclusive or craft unionismb.exclusive or commercial unionismc.an above-equlibrium fairy rated.an increase in the performance of labor
Which would rise the need for a particular kind of labor?a.a to decrease in the incomes of that form of laborb.an rise in the prices of the resources that space substitutes because that that form of laborc.an rise in the price of the sources that room complements come that type of labord.a to decrease in the demand for the products produced by that labor
Occupational licensing laws have actually the financial effect ofa.increasing the demand for laborb.decreasing the it is provided of laborc.strengthening the bargaining position of an commercial uniond.weakening the bargaining place of the union
Industrial unions frequently attempt to rise wage prices bya.imposing an above-equilibrium wage rate on employersb.increasing the need for laborc.decreasing the supply of labord.forming a bilateral monopoly
The major reason major league baseball players obtain an average salary of over $1 million a year and also teachers get an mean salary of about $40,000 a year can ideal be defined in regards to a.noncompeting labor groupsb.compensating differencesc.lack of project informationd.discrimination
The reality that unskilled construction workers commonly receive higher wages 보다 do financial institution clerks is finest explained by a.noncompeting labor groups b.compensating differencesc.geographic immobilityd.union restraints
Shrinking can be taken into consideration to it is in a principle-agent problem due to the fact that a.the work missions of the rule (the workers) diverge native the profit objective that the certified dealer (the firm)b.the profit objectives of the principle (the firm) diverge from the work objective that the agents (the workers)c.the for sure is operating in a monopsonistic labor sector d.the certain pay efficiency wages come the employees in a labor market
b.the profit missions of the rule (the firm) diverge from the work objective that the agents (the workers)
A firm payment an equilibrium wage of $10 per hour, and the workers produce 10 units of output an hour. If the for sure adopts an effectiveness wage and also it is successful, the wage rate for these workers willa.rise and also output will certainly fallb.fall and also output will risec.rise and output will certainly rised.fall and also output will fall
Real salaries in the United claims in the long run:a.show no discernible connection to output per workersb.have boosted at around the same rate as boosts in calculation per workerc.have increased slower than rises in calculation per worker d.have increased quicker than boosts in calculation per worker
The labor supply curve for a certain occupation is upsloping because:a.higher earnings will be necessary to lure workers from other occupations b.lower earnings will be essential to rise employmentc.higher incomes will enable some workers to afford an ext leisured.the labor need curve in downsloping
If the nominal incomes of carpenters climbed by 5 percent in 200 and the price level enhanced by 3 percent, then the genuine wages of carpenters: a.decreased by 2 percentb.increased by 2 percentc.increased by 3 percentd.increased through 8 percent
Unions frequently oppose increases in the price of complementary input (for example, truckdrivers might oppose rises in taxes on diesel fuel). They do this due to the fact that increases in the prices of complementary input might:a.incresase the it is provided of contending labor v the calculation effectb.increases the supply of contending labor v the substitution effectc.decreases the demand for union labor through the output effectd.decreases the need for union labor with the substitution effect
The separation, personal, instance firm in a purely competitive labor sector faces:a.a perfect elastic job supply curve and a downsloping labor need curve b.a perfectly elastic labor demand curve will certainly lie over the marginal labor price curvec.labor demand and labor it is provided curves both the which room perfectly elasticd.a downsloping labor demand curve and also an upsloping job supply curve
If a firm is rental a certain type of job under purely competitive conditions:a.its labor need curve will be perfect elastic in ~ the market-determined fairy rateb.the labor supply curve will certainly lie above the marginal price curvec.the labor supply and marginal job (resource) expense curve will certainly coincide and be upsloping d.the labor supply and marginal labor (resource) price curve will certainly coincide and also be perfectly elastic
a.the job supply and also marginal job (resource) cost curves will coincide and also be perfect elastic.
The productivity and real earnings of workers in the industrially progressed economies have risen historically partially because:a.workers have obtained less education and also training end time.b. Workers have actually been able come use bigger quantities of capital equipmentc.over time the capital equipment used by workers has actually deteriorated in qualityd.the supply of labor has increased
In monopsony:a.each for sure employs a small part of the total supply the laborb.the work force is very mobilec.the wage rate paid by the employee varies straight with the number of workers employedd.the employee is a \"wage taker\"
A monopsonist\"s wage price in hiring an additional worker in the:a.worker\"s fairy rateb.worker\"s wage rate plus the wage rises paid to every workers currently employedc.worker\"s fairy rate adjusted for the reduced price that must be charged because that the extra outputd.marginal wage expense less the fairy rate
Construction workers typically sponsor political lobbying in assistance of higher public security on highways and public buildings. One factor they carry out this is to:a.restrict the supply of construction workersb.increase the elasticity of need for building workersc.increase the need for construction workersd.increse the price of substitute inputs
Many financial experts are an essential of the minimum wage since they think that it:a.hurts the efforts of job unionsb.reduces the variety of available job avenues c.conflicts with plans designed to equalize the distribution of incomed.causes Kramer to be unemployed
If the minimum fairy is collection too high, in part labor markets we deserve to expect to see:a.a shortage of laborb.an boost in on-the-job trainingc.a excess of labord.a decrease in wage costs
In a monopsonistic labor sector the employer will certainly maximize earnings by employing workers up to that suggest at which: a.the difference between the fairy rate and also marginal resource (labor) cost is at a maximum.b.marginal revenue product amounts to marginal source (labor) cost.c.the wage rate equates to marginal revenue product.d.the wage rate equals marginal resource (labor) cost.
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Connect Finance Online accessibility for Essentials of Investments9th EditionAlan J. Marcus, Alex Kane, Zvi Bodie
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