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The following table provides information about labor supply and the marginal revenue product of labor for a profit-maximizing monopsonist. Marginal Revenue Product of Labor 36

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The following table provides information about labor supply and the marginal revenue product of labor for a profit-maximizing monopsonist. Marginal Revenue Product of Labor 36 33 30 27 24 21 18 15 12 Wage Labor Supply If this is a monopsony market, a minimum wage of $10/hour will have which of the following effects? 0 A decrease in the total amount of labor employed in the market. 0 An increase in the total amount of labor employed in the market. 0 A decrease in the wage paid to the last worker hired. 0 An increase in the marginal revenue product of the last worker hired

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