第十章 Factor Markets:Earlier in the semester, we discussed the labor supply decisions made by consumers when deciding how much they should or should not work. However, firms have the power to decide how many workers to hire. This lecture focuses on the operation of firms in the factor markets that supply the factors they use in production.10.1Competitive Factor Markets:The intersection of the factor supply curve and factor demand curve ( which depends on firm’s production functions and the market price for output) determines the equilibrium in a competitive factor market.
10.2Monopsony:In this section, we consider markets in which a firm is a monopsony: the only buyer of a good in a market. We will learn how a monopsony maximizes its profit by paying a price below the competitive level.
[单选题]In a perfectly competitive resource market the labor supply curve facing the single firm is(   )

选项:[vertical., downward-sloping., upward-sloping., horizontal.]
[单选题]If a competitive firm faces a competitive labor market, it will hire labor until(   )

选项:[w = MPL ∗ p., w = MPL., w = p., MPL = 0.]
[单选题]If a firm buys its labor in a competitive market, then a short-run increase in the price of the firm's output will cause the firm to(  )

选项:[hire fewer workers., offer a lower wage., offer a higher wage., hire more workers.]
[单选题]In a perfectly competitive resource market the Marginal Revenue Product Curve is(  )

选项:[horizontal., vertical., upward-sloping., downward-sloping.]
[单选题]The increase in total revenue due to increasing the amount of labor employed by one unit is called the(  )

选项:[Marginal Product., Total Revenue Product., Average Revenue Product. , Marginal Revenue Product.]

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