If a Monopsonist Offers a Wage of $6, He Finds

question 39

Multiple Choice

If a monopsonist offers a wage of $6, he finds that 1,200 people are willing to work for him. This means that the:

• A) marginal factor cost is $6.
• B) marginal factor cost is $200.
• C) total wage cost is $1,200.
• D) total wage cost is $7,200.