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hy does the wagerate equalto the marginal revenue product? When amonopolyfaces amonopsonist, what happens? How is the equilibriumwage rate determined?...

  1. In perfectly competitive input markets, why does the wage rate equal to the marginal revenue product?
  2. When a monopoly faces a monopsonist, what happens?
  3. How is the equilibrium wage rate determined?
  4. How does the bargaining power have a role to play in the determination of the wage rate

Top Answer

In the perfectly competitive input markets, the wage rate is equal to marginal revenue product since this is the point at... View the full answer

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