The demand for labor is
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The MRP curve for labor:
A. Intersects the firm's labor demand curve from above.
B. Is the firm's labor demand curve.
C. Lies below the firm's labor demand curve.
D. Lies above the firm's labor demand curve.
The greater inequality of wages can be viewed as a sign that:
demand for skilled labor is increasing faster than supply.
supply for skilled labor is decreasing faster than demand.
demand for skilled labor is decreasing faster than supply.
supply for skilled labor is increasing faster than demand.
14. A monopsony will hire workers up to the point where its
a. demand for labor equals the marginal cost of additional labor.
b. demand for labor equals the marginal product of additional labor.
c. demand for labor equals the average product of additional labor.
d. demand for labor equals the price of the product.