The Demand Curve for Labor of a Monopolist

question 232

Multiple Choice

The demand curve for labor of a monopolist

• A) is horizontal even though the demand curve for labor for a competitive firm is downward sloping.
• B) slopes down for the same reason as the demand curve for labor of a perfectly competitive firm.
• C) slopes down because of the law of diminishing marginal product and because the monopolist must lower prices to sell additional units of the good.
• D) slopes upward because monopolists use more capital than do perfectly competitive firms.

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