In a Market Where One Unit of Labor Produces One

question 92

Multiple Choice

In a market where one unit of labor produces one unit of output,consumers prefer

• A) a competitive labor market and a monopoly output market.
• B) a competitive output market and a monopoly labor market.
• C) a monopoly output market and a monopoly labor market.
• D) None of the above-they are indifferent between A and B.