A monopolist produces a good using only one factor， labor.There are constant returns to scale in production， and the demand for the monopolist'；s product is described by a downward sloping straight line with slope -1.The monopolist faces a horizontal
A monopolist produces a good using only one factor， labor.There are constant returns to scale in production， and the demand for the monopolist'；s product is described by a downward sloping straight line with slope -1.The monopolist faces a horizontal labor supply curve.If the monopolist chooses output to maximize profits， then th
E.
A.marginal cost of labor to the monopolist exceeds the wage.
B.marginal product of labor times price of output equals the wage.
C.marginal product of labor times price of output is less than the wage.
D.marginal product of labor times price of output exceeds the wage.
正确答案：marginal product of labor times price of output exceeds the wage.
Tag：中级微观经济学
时间：2023-12-17 11:48:02
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