Refer to the Above Graph.The Producer Illustrated

question 87

Multiple Choice

Refer to the above graph.The producer illustrated:

• A) is a monopsonist since MR = P for every unit sold.
• B) is a pure competitor in the output market since it must pay the market wage.
• C) is a monopsonist in its output market since it has control over the market wage rate.
• D) hires labor in a competitive market since it must pay each worker W*,the market wage rate.

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Definitions:

Encouragement

The action of giving someone support, confidence, or hope to stimulate or promote a desired behavior or action.

Intimate Space

Zone of space most often used for very personal or intimate interactions, ranging from 0 to 1½ feet between individuals.

Personal Space

Zone of space most often used for conversations with family and friends, ranging from 1½ to 4 feet between individuals.

Social Space

Zone of space most often used for group interactions, ranging from 4 to 12 feet between individuals.