What the profit tell you about magnitude of marginal revenue, Microeconomics

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What the profit tell you about magnitude of marginal revenue

Problem

A hospital is a monopsonist in the market for nursing services in a city. At its profit-maximizing input combination, the elasticity of supply for nursing services is +1. What does this tell you about the magnitude of the marginal revenue product of labor relative to the wage that the firm is currently paying its workers?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What the profit tell you about magnitude of marginal revenue

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