Economic's NO GUESSING?

[chavivi]

6.
In a perfectly competitive labor market,
A) MFC > w
B) MFC < w
C) MFC = w.
D) None of the above is correct.
7.
For a monopoly firm operating in a monopsony labor market, an optimal quantity of labor is hired in the short run when:
A) MRP = w
B) MRP = MFC
C) P x MP = W
D) All of the above are correct.
8.
In a monopsony labor market, MFC:
A) equals the wage.
B) exceeds the wage.
C) is less than the wage.
D) may be greater than, less than, or equal to the wage.
9.
The introduction of an effective minimum wage law in a monopsony market will cause the optimal level of employment to:
A) increase.
B) decrease.
C) remain unchanged.
D) change in a manner that cannot be determined without additional information.
10.
In a perfectly competitive labor market, the introduction of an effective minimum wage with complete coverage will cause the level of employment to:
A) increase.
B) decrease.
C) remain unchanged.
D) change in a manner that cannot be determined without additional information.