Efficient allocation resources between alternative production of good x and good ye
2. Underutilization of fixed input
3 Over Utilization of variable input H
4 The competitive labor and product market
5. Membership representing mainly unskilled workers
from many occupations T
6 Competitive labor market and monopoly in product market-3
7. Monopsonist in labor market and competitive in product market
8. Monopsonist in labor market and Monopolist in product market A
9. Membership representing skilled workers from one occupation. F
10. Employees taking unauthorized work breaks p
Part IV: Short answer questions (2 pts)
A W<MRPL< VMPL
B. WMRPL-VMPL
C. VMPLX VMPLY
D. Shirking behavior
E. Stage 1 of Short run production
F. Craft unions
G. VMPLX> VMPLY
H. Stage III of Short run production 1. General unions
1. W MRPL(but < VMPL)
K. WMRPL(but= VMPL)-
L. Free rider problem
1 answer
1 answer