Which of the following does not occur in a competitive equilibrium?
A) The demand for labor will be perfectly elastic.
B) The supply of labor will be perfectly elastic.
C) If there's an increase in the supply of labor,wages will adjust appropriately.
D) When the supply of labor decreases,the hours worked by individuals will adjust.
E) When the demand for labor increases,the firms will not adjust the number of workers employed.
Correct Answer:
Verified
Q1: Suppose instead of the subsidy,the government imposes
Q2: If workers are perfectly mobile,what will be
Q3: Suppose the state government increases the payroll
Q5: Suppose the government imposes an employment subsidy
Q6: How many workers are employed in the
Q7: After the $4 subsidy is imposed,how many
Q8: What is the equilibrium wage?
A) $5
B) $7
C)
Q9: After the $4 tax is imposed,how many
Q10: If workers are perfectly mobile,what will be
Q11: How many chefs will work in the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents