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Question
Under monopsony, the marginal factor cost of a worker is equal to
A) the additional workerʹs wage rate only.
B) the additional workerʹs wage rate plus the increase in the wages of all other existing workers.
C) the increase in the wages of all other existing workers.
D) the difference between the workerʹs wage rate and the lower wage rate received by workers who have already been hired.
Answer
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Related questions
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