A Monopolist Will Hire an Additional Unit of Labor as Long

question 15

Multiple Choice

A monopolist will hire an additional unit of labor as long as

• A) the additional cost of the worker is outweighed by the additional revenues made from selling the output of theses workers.
• B) the marginal revenue curve is above the demand curve.
• C) the marginal revenue product is larger than the marginal factor cost.
• D) the marginal revenue product is less than the marginal factor cost.

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Definitions:

Borg

A fictional collective from the "Star Trek" universe that assimilates species and technologies to achieve perfection.

Crater

A bowl-shaped cavity on the surface of a planet, moon, or asteroid, typically caused by the impact of a meteorite.

Ratification

The act of approving or sanctioning an agreement or treaty that makes it officially valid.

Unauthorized Act

An action taken by an individual or entity without permission or authority, potentially leading to legal consequences or invalidation of the act.