Use the Following to Answer Question(s): Minimum Wage and Monopsony

question 41

Multiple Choice

Use the following to answer question(s) : Minimum Wage and Monopsony

-(Exhibit: Minimum Wage and Monopsony) In the absence of a minimum wage, the monopsony firm in the exhibit would maximize profits by hiring _______ units of labor per period.

• A) L₁
• B) L₂
• C) L₃
• D) none of the above

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