A Monopsony Has a Marginal Revenue Product Curve of MRP_L

question 93

Multiple Choice

A monopsony has a marginal revenue product curve of MRP_L = 100 - l and faces a labor supply curve of W = 1.5l. How many workers will the monopsony hire?

• A) 100
• B) 50
• C) 25
• D) 40

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Definitions:

Overcorrection

A term that encompasses several different techniques and behavioral principles to reduce inappropriate behavior. The objective is to have students practice repeatedly a positive behavior contingent on the performance of an inappropriate behavior.

Appropriate Behaviors

Actions or reactions of an individual in a given situation that are considered suitable, acceptable, or desired according to societal norms or specific settings.

Punishment Procedures

Techniques used to decrease the likelihood of a behavior recurring, typically by introducing a negative consequence or withdrawing a positive stimulus.

Escape Conditioning

A term synonymous with negative reinforcement but tends to be more descriptive of the process.