1. If an economy's income inequality increases, then the economy's poverty rate must have increased as well. A. True B. False 2. If a firm hires another worker and that worker's MCL is exactly equal to the MCL of the previous worker, then the firm hires labor in a _____________________ market. A. perfectly competitive B. monopsonistic

1. If an economy's income inequality increases, then the economy's poverty rate must have increased as well. A. True B. False 2. If a firm hires another worker and that worker's MCL is exactly equal to the MCL of the previous worker, then the firm hires labor in a _____________________ market. A. perfectly competitive B. monopsonistic

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Labor Markets

Section: Chapter Questions

Problem 2SQP

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Similar questions

Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and the price at which the film can sell output in the perfectly competitive market where it operates. What is the value of the marginal product at each level of labor? If the firm operates in a perfectly competitive labor market where the going market wage is 12, what is the films profit maximizing level of employment?
Other than the demand for labor, what would be another example of a 'derived demand?
If immigration is reduced, what is the impact on the wage for low-skilled labor? Explain.
Table 14.11 shows levels of employment (Labor), the marginal product at each of those levels, and a monopolys marginal revenue. What is the monopolys marginal revenue product at each level of employment? If the monopoly operates in a perfectly competitive labor market where the going market wage is 20, what is the films profit maximizing level of employment?
1.In the goods market, we have prices; in the labor market, we have wages or salaries; in the financial market, we have: A)credit B)interest rates C)usury D)principal 2.A certain mining company employs all the workers in a small mountainous community. If all the people of this community do not work for other companies, one can say that the situation with the mining company is a form of: A)Monopsony B)Oligopoly C)Monopoly D)Oligopsony 3.Through collective bargaining, labor unions can negotiate higher wages for union members. However, this might cause _______________ when these union wages are higher than the market equilibrium. A)affirmative action B)a labor strike C)excess demand for labor D)excess supply of labor 4.According to studies, the gap between the earnings of male and female workers can be explained by: A)all the options are correct B)the percentage of men vs. women in top positions in companies C)the expectations that women are likely to bear a…