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Brenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm’s MRP for bricklayers is $22.25 per hour for each of the first seven bricklayers, $18.50
for an eighth brick layer, and $17.75 for a ninth bricklayer. Given that she is a price taker when
hiring bricklayers, how many bricklayers will she hire if the market equilibrium wage for bricklayers is $18.00 per hour?
a. Zero.
b. Seven.
c. Eight.
d. Nine.
e. More information is required to answer this question.
2. Because a perfectly competitive employer’s MRC curve is ______________, it will hire ____________ workers than would a monoposony employer with the same MRP curve.
a. Upsloping; more.
b. Upsloping; fewer.
c. Flat; more.
d. Flat; fewer.
e. Downsloping; more.
3. True or false. When a labor market consists of a single monopsony buyer of labor interacting with a single monopoly seller of labor (such as a trade union), the resulting quantity of labor that is hired will always be inefficiently low.
Dec 05 2019 Read more Less More
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