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Brenda owns a construction company that employs bricklayers and other skilled tradesmen.

 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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