If the Supply Function of Input Z to Some Monopsonist

question 57

Multiple Choice

If the supply function of input z to some monopsonist is 10 + 2z:

• A)MFC = 10.
• B)MFC = 4z.
• C)MFC = 10 + 4z.
• D)MFC = 10 + 2z.

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Definitions:

Raw Materials Inventory

The stock of unprocessed materials that are used in the manufacturing process to produce finished goods.

Cost of Goods Sold

The total direct costs attributable to the production of the goods sold by a company.

Raw Materials

Basic materials that are used to produce goods, finished products, or intermediate materials which are feedstock for future finished products.

Raw Materials Inventory

Stock of materials that are to be used in the production of goods, not yet processed or incorporated into finished products.