Suppose a Firm Is a Monopolist in Its Output Market $Q _ { D } = 1800 - P$

question 9

Multiple Choice

Suppose a firm is a monopolist in its output market and a perfect competitor in its input market.The demand for its output is $Q _ { D } = 1800 - P$ .The firm's production is given by $Q = 10 \sqrt { L }$ and the market wage is $50.The profit-maximizing level of labor input is

• A)100
• B)1,000
• C)3,600
• D)5,000

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Definitions:

Offer

A proposal made with the intent that, if accepted, it will become a legally binding agreement.

Revocation

The act of officially canceling or withdrawing something, such as a law, right, or offer.

Offeree

An offeree is a person or entity to whom an offer is made, typically in the context of contracting or other legal agreements.

Employer's Promise

An assurance or guarantee given by an employer to an employee, outlining specific commitments regarding job security, working conditions, or benefits.