1.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. 2. Refer to the table above: If the firm is hiring workers under purely competitive conditions at a wage rate of $10, it will employ: a 2 workers. B 3 workers. C 4 workers. D 5 workers. 3.The United Mine Workers is a good illustration of: a how unions have increased wages but reduced job opportunities by shifting the supply-of-labor curve to the left. B how unions have raised wages and increased job opportunities by increasing the demand for labor. C inclusive unionism. D exclusive unionism. 4.A monopsonistic employer: a has a perfectly elastic labor supply curve. B is necessarily a monopolist in the product market. C confronts a marginal resource (labor) cost that is greater than the wage rate. D confronts a marginal resource (labor) cost that is less than the wage rate.
