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Under monopsony, the wage rate
选项：

A:A) equals the marginal product of labor.;
B: equals the marginal revenue product of labor.;
C: is less than the marginal revenue product of labor.;
D: is greater than it would be under perfect competition.

发布时间：2024-06-04 01:13:40

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1.The quantity of labor that a profit maximizing firm will employ, holding other input factors constant, is the level at which: A. one more unit of labor would cost less than the value of its additional output. B. the marginal product of labor is equal to the marginal cost of labor. C. the marginal revenue product of labor is equal to the wage rate.
2.In a certain textile firm, labor is the only short term variable input. The manager notices that themarginal product of labor is the same for each unit of labor, which implies that: 选项： A:the average product of labor is always greater that the marginal product of labor. B:the average product of labor is always equal to the marginal product of labor. C:the average product of labor is always less than the marginal product of labor. D:as more labor is used, the average product of labor falls. E:there is no unambiguous relationship between labor's marginal and average products.
3.For a profit-maximizing, competitive firm, the value of the marginal product of labor A: increases when the price of output decreases. B: is the firm’s demand for labor. C: equals the marginal product of labor divided by the wage rate D: All of the above are correct.
4.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A、increases when the price of output decreases. B、is the firm’s demand for labor. C、equals the marginal product of labor divided by the wage rate. D、All of the choices are correct.
5.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A、increases when the price of output decreases. B、is the firm’s demand for labor. C、equals the marginal product of labor divided by the wage rate D、All of the above are correct.
6.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A:increases when the price of output decreases.; B:is the firm’s demand for labor.; C:equals the marginal product of labor divided by the wage rate; D:All of the above are correct.
7.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A:increases when the price of output decreases.; B:is the firm’s demand for labor.; C:equals the marginal product of labor divided by the wage rate.; D:All choices are correct.
8.For a profit-maximizing, competitive firm, the value of the marginal product of labor 选项： A:increases when the price of output decreases.; B:is the firm’s demand for labor.; C:equals the marginal product of labor divided by the wage rate.; D:All of the choices are correct.
9.A monopolist produces a good using only one factor, labor. There are constant returns to scale in production, and the demand for the monopolist's product is described by a downward sloping straight line with slope -1. The monopolist faces a horizontal labor supply curve. If the monopolist chooses output to maximize profits, then the:选项： A:marginal cost of labor to the monopolist exceeds the wage. B:marginal product of labor times price of output exceeds the wage. C:marginal product of labor times price of output equals the wage. D:marginal product of labor times price of output is less than the wage.
10. If a firm is a price taker in the labor market, then the value of the marginal product of labor equals ( )选项： A:labor’s marginal product.; B:labor’s marginal product multiplied by the price of the final product.; C:labor’s marginal product times the wage rate.; D:labor’s marginal product divided by the wage rate.
11.A firm wants to minimize the total cost of producing 100 tons of dynamite. The firm uses two factors of production, chemicals and labor. The combination of chemicals and labor that minimizes production costs will be found where: 选项： A:the marginal products of chemicals and labor are equal. B:the ratio of the amount of chemicals used to the amount of labor used equals the ratio of the marginal product of chemicals to the marginal product of labor. C:the ratio of the amount of chemicals used to the amount of labor used equals the ratio of the price of chemicals to the wage rate. D:the production of an additional unit of dynamite costs the same regardless of whether chemicals or labor are used. E:none of the above
12.The marginal rate of technical substitution is equal to the: 选项： A:slope of the total product curve. B:change in output minus the change in labor. C:change in output divided by the change in labor. D:ratio of the marginal products of the inputs.
13.If a monopolistically competitive firm is producing the profit-maximizing level of output and is earning an economic profit in the short run: 选项： A:price is less than average total costs. B:price is less than marginal cost. C:marginal revenue is less than marginal cost. D:marginal revenue equals marginal cost.
14.AnincreaseinthesupplyofLaborwill 选项：Increase the value of the marginal product of labor and raise wages.#Reduce the value of the marginal product of labor. And lower wages.#Increase the value of the marginal product of labor and lower wages.#Reduce the value of the marginal product of labor and raise wages.
15.Explain how the wage can adjust to balance the supply and demand for labor while simultaneously equaling the value of the marginal product of labor.
16.If an increase of an equal percentage in all factors of production increases output of the same percentage, then a production function has the property called: 选项： A:constant marginal product of labor. B:increasing marginal product of labor. C:constant returns to scale. D:increasing returns to scale.
17.An analyst does research about total, marginal and average product curve of labor. As more labor is hired, which of the following curves initially increases and then decreases A. The average product of labor curve, but not the total and marginal product of labor curve.B. The marginal product of labor curve, but not the total and average product of labor curve.C. Both the marginal product of labor and the average product of labor curve, but not the total product of labor curve.
18.For maximum profit,a firm hires labour up to the point at which the wage equals(i)the value of the marginal product of labour.(ii)the marginal cost of an additional unit of output.(iii)output price ´marginal product of labour
19.A profit-maximizing, competitive firm for which the marginal product of labor is diminishing also experiences 选项： A、a perfectly inelastic supply of labor. B、a perfectly elastic supply of labor. C、a downward-sloping demand for labor. D、an upward-sloping demand for labor.
20.(单选题，10 分)In an economy with no population growth and no technological change, steady-state consumption is at its greatest possible level when the marginal product of: 选项： A:Labor equals the marginal product of capital. B:Labor equals the depreciation rate. C:Capital equals the depreciation rate. D:Capital equals zero.

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Under monopsony, the wage rate选项： A:A) equals the marginal product of labor.; B: equals the marginal revenue product of labor.; C: is less than the marginal revenue product of labor.; D: is greater than it would be under perfect competition.

Under monopsony, the wage rate
选项：

A:A) equals the marginal product of labor.;
B: equals the marginal revenue product of labor.;
C: is less than the marginal revenue product of labor.;
D: is greater than it would be under perfect competition.