18. Portray what will occur if a solid mechanical association is shaped in a work market which isn't cutthroat however monopsonistic. MRC Wage Rate (Dollars) W. MRP

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Q: 8) The value of the marginal product of any input is equal to the marginal product of that input…

A: Marginal product of labor refers to addition in total product by using one more unit of labor.

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A: Note: “Since you have posted a question with multiple sub-parts, we will solve the first three…

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Q: Units TP VC FC TC МС of Labor

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

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A: There are three factors of production: land ,labour and capital.

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A: Answer in step 2.

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A: Marginal Product of third labour  (MP) = 360 - 240 =120

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A: The competitive market structure is a market in which there are large number of buyers and sellers.…

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A: Given:When 6 employee is hired:MPL=9Price of output=$8

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A:

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A: *SOLUTION :-

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A:

Q: uantity of Labor Supplied Wage Total Cost of Labor Marginal Cost of Labor…

A: Under the monopsony , there is single buyer in the market and Monopsony equilibrium condition is…

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