Refer to Table 3.12. Assume a one-wage monopsony may sell its good for $2 and is a price-taker. Also, it must pay the same wage to all its workers. What is the profit maximizing one-wage monopsony wage?
a.) $1
b.) $4
c.) $2
d.) $3
Answer: d
Refer to Table 3.12. Assume a one-wage monopsony may sell its good for $2 and is a price-taker. Also, it must pay the same wage to all its workers. What is the profit maximizing one-wage monopsony wage?
a.) $1
b.) $4
c.) $2
d.) $3
Answer: d