In a perfectly competitive labour market an increase in the wage rate will result in:
A) a decrease in the quantity demanded of labour
B) an increase in the demand for labour
C) an increase in the quantity of labour demanded
D) a decrease in the demand for labour
Correct Answer:
Verified
Q2: In a perfectly competitive market for labour
Q3: Compared to a perfectly competitive labour market,
Q4: A 'wage taker' refers:
A) only to an
Q5: In a competitive labour market the cost
Q6: A firm which is a 'wage- setter'
Q7: Under perfect competition wage- rates are NOT
Q8: The supply curve for labour in the
Q9: If the productivity of workers suddenly rises
Q10: New technology in the form of computer
Q11: The market demand curve for labour is:
A)
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