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Marginal factor cost for the eleventh worker

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Reference no: EM131293061

Suppose that a monopsonist increases the number of workers hired from 10 to 11. If the market wage increases from $20 per worker to $21 per worker, the marginal factor cost for the eleventh worker is:

  • $20.
  • $21.
  • $31.
  • $231.

Reference no: EM131293061

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