A monopsony company has 5 employees each earning $20 an hour. The company decided to hire two a new employees at a rate of $25 an hour. The Marginal Labour Cost for employee number 6 is: $25 $5 $20 $125 $150

A monopsony company has 5 employees each earning $20 an hour. The company decided to hire two a new employees at a rate of $25 an hour. The Marginal Labour Cost for employee number 6 is: $25 $5 $20 $125 $150

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A monopsony company has 5 employees each earning $20 an hour. The company decided to hire two a new employees at a rate of $25 an hour. The Marginal Labour Cost for employee number 6 is:

		$25
		$5
		$20
		$125
		$150

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