The Optimal Level of Employment for a Monopsonist Is Set

question 20

Multiple Choice

The optimal level of employment for a monopsonist is set at the point where the

• A)wage rate equals the VMPL.
• B)wage rate equals the marginal factor cost.
• C)marginal factor cost equal to the MRPL.
• D)supply of labor equals the marginal factor cost.

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Definitions:

Hemorrhage

Excessive bleeding caused by the rupture of blood vessels, internally or externally.

Hemoglobin Molecule

A protein in red blood cells responsible for transporting oxygen from the lungs to the rest of the body.

Oxyhemoglobin

A complex formed when oxygen binds to hemoglobin in red blood cells.

Deoxyhemoglobin

Hemoglobin without oxygen, the form present after oxygen has been released to the tissues.