B 52 c 2 d 4 aacsb analytical skills blooms

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B. $52. C. $2. D. $4. AACSB: Analytical Skills Blooms: Application Learning Objective: 13-2 McConnell - Chapter 13 #45 Topic: Purely competitive labor markets 46. Refer to the above data. We can conclude from the information given that this firm is a: A. pure monopolist. B. discriminating monopolist. C. monopolistic competitor. D. pure competitor. AACSB: Analytical Skills Blooms: Analysis Learning Objective: 13-2 McConnell - Chapter 13 #46 Topic: Purely competitive labor markets
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47. Refer to the above data. If the market wage rate is $8, this firm will employ: A. 2 workers. B. 3 workers. C. 4 workers. D. 5 workers. AACSB: Analytical Skills Blooms: Analysis Learning Objective: 13-2 McConnell - Chapter 13 #47 Topic: Purely competitive labor markets 48. Refer to the above data. If the market wage rate is $8 and the firm hires its profit-maximizing number of workers, the firm's total wage bill (payment) will be: A. $16. B. $24. C. $32. D. $48. AACSB: Analytical Skills Blooms: Analysis Learning Objective: 13-2 McConnell - Chapter 13 #48 Topic: Purely competitive labor markets 49. Refer to the above data. If the market wage rate is $8 and the firm hires its profit-maximizing number of workers, the firm's total revenue will exceed its total wage payment by: A. $20. B. $16. C. $12. D. $8. AACSB: Analytical Skills Blooms: Analysis Learning Objective: 13-2 McConnell - Chapter 13 #49 Topic: Purely competitive labor markets 50. Refer to the above data. If this firm can hire as few or many workers as it wants at $8, it is: A. hiring labor in a monopsony labor market. B. hiring labor in a purely competitive labor market. C. selling its product in a monopolized product market. D. selling its product in a purely competitive product market. AACSB: Analytical Skills Blooms: Application Learning Objective: 13-2 McConnell - Chapter 13 #50 Topic: Purely competitive labor markets 1. W < MRP; W < MRC 2. W = MRP; W < MRC 3. W = MRP; W = MRC 4. W > MRP; W > MRC McConnell - Chapter 13 51. Refer to the above list. The outcome in a purely competitive labor market is shown by: A. 1. B. 2. C. 3. D. 4. AACSB: Reflective Thinking Skills Blooms: Knowledge Learning Objective: 13-3 McConnell - Chapter 13 #51 Topic: Monopsony and imperfectly competitive labor markets
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52. Refer to the above list. The outcome in a monopsony labor market is shown by: A. 1. B. 2. C. 3. D. 4. AACSB: Reflective Thinking Skills Blooms: Knowledge Learning Objective: 13-3 McConnell - Chapter 13 #52 Topic: Monopsony and imperfectly competitive labor markets 53. The labor supply curve facing a purely competitive employer is __________ whereas the labor supply curve facing a monopsonist is ___________. A. upward sloping; horizontal B. downward sloping; vertical C. vertical; upward sloping D. horizontal; upward sloping AACSB: Reflective Thinking Skills Blooms: Understanding Learning Objective: 13-3 McConnell - Chapter 13 #53 Topic: Monopsony and imperfectly competitive labor markets
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B 52 C 2 D 4 AACSB Analytical Skills Blooms Application...

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