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A competitive industry hires 1000 worksers. The 1000th worker adds $500.00 a week to their employer's revenue. If a monopoly took over the industry, then the 1000th worker would likely

a. add less than 500 a weeek to their employer's revenue
b. still add 500 a week to their employer's revenue
c. add more than 500 a week to their employer's revenue
d. uncertain; it depends on the shape of the demand curve for output.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946642

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