LETSPASS TUTORIALS
ECS2604 ASSIGNMENT 2
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, Started on Friday, 14 April 2023, 11:52 AM
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Completed on Friday, 14 April 2023, 11:55 AM
Time taken 25 mins 33 secs
Marks 10.00/10.00
Grade 100.00 out of 100.00
Question 1
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Question text
Assuming a monopsonist operates in a discriminating labour market,
what are the respective values in cells A, B and C?
Wage (W) Employment (E) Marginal cost of labour (MCE)
100 1 100
150 2 A
, 200 3 B
250 4 C
A = 2, B = 3, C = 4
A = 200, B = 300, C = 400
A = 100, B = 100, C = 100
A = 150, B = 200, C = 250
A = 300; B = 600; C = 1000
Question 2
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Which of the following is incorrect with regard to the flexibility of
contracts of employment?
It refers to the employer’s ability to terminate contracts of
employment.
It refers to the employer’s restriction in terms of his hiring decisions.