140 120 -MFC 100 VMP 80 MRP 60 LS 40 10 20 30 40 50 37. Suppose the firm represented by this graph sells its product as a monopoly and buys its labor as a monopsony, what is the difference between the wage rate th pay for the marginal unit of labor and the value of this unit's marginal product? O (a) $46 O (b) $20 20

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140
120
MFC
100
VMP
80 + MRP
60
LS
40
20
10
30
40
50
37. Suppose the firm represented by this graph sells its product as a monopoly and buys its labor as a monopsony, what is the difference between the wage rate this firm will
pay for the marginal unit of labor and the value of this unit's marginal product?
(a) $46
(b) $20
(c) $30
(d) $26
20
%24
Transcribed Image Text:140 120 MFC 100 VMP 80 + MRP 60 LS 40 20 10 30 40 50 37. Suppose the firm represented by this graph sells its product as a monopoly and buys its labor as a monopsony, what is the difference between the wage rate this firm will pay for the marginal unit of labor and the value of this unit's marginal product? (a) $46 (b) $20 (c) $30 (d) $26 20 %24
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