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Question
| Quantity of Labor | Hourly Wage Rate | Total Marginal Wage Bill Factor Cost |
| 0 | - | - - |
| 1 | $10 | |
| 2 | 12 | |
| 3 | 14 | |
| 4 | 16 | |
| 5 | 18 | |
| 6 | 20 |
In the above table, if the marginal revenue product is $14, how many workers will the profit maximizing monopsonist hire?
A) 2
B) 3
C) 4
D) 5
Answer
This answer is hidden. It contains 1 characters.
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