Firm a Is a Monopoly

question 6

Multiple Choice

Firm A is a monopoly.The demand for its output is p = 90 - Q.Production is such that Q = L.Firm A hires labor in a competitive market where the wage is $10.Firm A will hire

• A) 10 units of labor.
• B) 20 units of labor.
• C) 30 units of labor.
• D) 40 units of labor.

---

Definitions:

Personal Responsibility

The principle of taking ownership for one's actions and their consequent effects on oneself and others.

Work Opportunity Act

Legislation aimed at increasing job opportunities for certain groups of people, including the long-term unemployed, veterans, and recipients of certain types of public assistance.

Poorest Fifth

The segment of a population that ranks at the bottom 20% in terms of income.

Richest Fifth

The segment of a population that represents the top 20% in terms of wealth or income distribution.