Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Dollars per hour
$20
18
16
14
12
10
8
Firm
0
1
2
3 4
MFC
Supply Labor
MRP = Demand labor
Workers
per day
The graph above displays a monopsony in the labor market. Use the graph
to answer the following questions:
A. If the wage is $10 per hour, how many workers will want to work at
that wage? 2
B. How much additional revenue does the 3rd worker bring to the firm?
[选择]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fecb98588-a47b-4580-bcc1-075e93c9bba8%2F87848db0-7114-47d1-8c87-87d1b5a3db0a%2Flpopjho_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Dollars per hour
$20
18
16
14
12
10
8
Firm
0
1
2
3 4
MFC
Supply Labor
MRP = Demand labor
Workers
per day
The graph above displays a monopsony in the labor market. Use the graph
to answer the following questions:
A. If the wage is $10 per hour, how many workers will want to work at
that wage? 2
B. How much additional revenue does the 3rd worker bring to the firm?
[选择]
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