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Question
The demand curve for labor of a monopolist
A) is horizontal even though the demand curve for labor for a competitive firm is downward sloping.
B) slopes down for the same reason as the demand curve for labor of a perfectly competitive firm.
C) slopes down because of the law of diminishing marginal product and because the monopolist must lower prices to sell additional units of the good.
D) slopes upward because monopolists use more capital than do perfectly competitive firms.
Answer
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