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Sample Exam3 Questions

# Sample Exam3 Questions - Sample Questions for Final Exam 1...

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Sample Questions for Final Exam 1. What best describes how a perfectly discriminating monopsonist makes its hiring decisions? (a) It hires different workers at different wages. (b) It hires workers to the point where the labor supply curve intersects the firm’s labor demand curve. (c) The firm’s marginal cost of labor equals the labor supply curve faced by the firm. (d) Both (a) and (b). (e) All of (a), (b), and (c) are true. 2. The labor supply curve is given by E S = - 6 + 0 . 6 w and the labor demand curve is given by E D = 50 - w , where w is the wage in \$ per hour. A payroll tax of \$8 per unit is imposed on the worker. What part of this tax is paid by the firm? 3. The labor supply curve is given by E S = - 6 + 0 . 6 w and the labor demand curve is given by E D = 50 - w , where w is the wage in \$ per hour. A payroll tax of \$8 per unit is imposed on the worker. What part of this tax is paid by the worker?

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Sample Exam3 Questions - Sample Questions for Final Exam 1...

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