Under monopsony, quantity of wokers employed are determined by:     Demand curve      Marginal Labour Cost curve      Intersection of MLC and Demand curve       Interesection of MLC and Supply curve     Supply Curve only

The more elastic the labour supply is, the smaller the wage paid by a monopsonist. True False

3. A monopsonist's inverse demand for labor can be written as D-'(w) = VMP(E) = 40 – 0.005ED. Labor is supplied to the firm according to the inverse supply function S-(w) s(E) = w = 5+ 0.01E3. %3D

We discussed the impacts of both a monopsony as well a monopoly on the labour market. Combine the results of these two situations to discuss the ramifications on wages and employment if a firm was both a monopoly and monopsony.

Refer to the following diagram that shows the labor demand for a monopolistic firm hiring labor from a competitive labor market. Wage W₂ W₁ 2. A 1. B MRP с Q₁ Q₂ The allocatively efficient level of employment for this firm is given by some amount greater than Q 2. some amount between Q 1 and Q 2. S VMP Labor

For a firm selling goods in a perfectly competitive market, the price of their output is A. equal to the marginal revenue product of labour B. equal to the marginal revenue product of capital C. equal to the marginal revenue associated with an additional unit of output D. equal to the marginal product of labour

Please help with the following.

Under monopsony, wages that are paid are lower than reservation wage.   True  False

V3    given froduction function F=K^1/4 L^1/16 price of capital and labor are v and w 1)find short run cost function with quantity X, and that there are Y amount of capital purchased 2)find the long run contigent demand for capital and labor

Consider a monopsonist that hires 4.28 units of labor at a wage of 19.26. If the marginal value placed on the last worker hired is 41.22​ a.) what is the elasticity of labor supply for this​ monopsonist?