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Title: Suppose your firm is a monopsonist hiring only one variable input. If you want to maximize profits, ... Post by: zer0latency on Oct 9, 2022 Suppose your firm is a monopsonist hiring only one variable input. If you want to maximize profits, you will purchase that variable input up to the point where the
▸ cost of the input equals the profit generated by the employment of that input. ▸ MRP curve for the input intersects the marginal cost curve for the input. ▸ wage rate is the highest. ▸ marginal product of that input equals the price of one unit of the input. ▸ demand curve intersects the supply curve of the input. Title: Suppose your firm is a monopsonist hiring only one variable input. If you want to maximize profits, ... Post by: oth987 on Oct 9, 2022 Content hidden
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