Suppose a Monopsonist Must Pay $10 Per Hour to Attract

question 115

Multiple Choice

Suppose a monopsonist must pay $10 per hour to attract 10 workers.If the same monopsonist must raise its wage to $11 per hour to attract the 11^th worker,what is its marginal factor cost for labor?

• A)$121 per hour.
• B)$21 per hour.
• C)$11 per hour.

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Definitions:

Marketing Strategies

Comprehensive plans formed by businesses or organizations to identify target markets and outline approaches for attracting and retaining customers through various promotional activities.

Corporate Level

A strategic tier in an organization focused on overall direction, including portfolio management and corporate strategy.

Top Management

The highest level of management in an organization, including positions such as CEO, CFO, and other executive roles responsible for overseeing the entire operations.

Strategy

A plan of action designed to achieve a long-term or overall goal, often involving the allocation of resources and decision-making processes.