In a Monopsonistic Input Market, the Firm Buying the Input

question 16

Multiple Choice

In a monopsonistic input market, the firm buying the input knows that the price of the input will be determined by:

• A) the quantity of output that it produces.
• B) the marginal revenue product of the input.
• C) the net marginal revenue of the input.
• D) the quantity that it purchases.
• E) the marginal cost of the input.

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