In a perfectly competitive market for labour the marginal cost of labour:
A) is equal to the wage rate
B) increases as more units of labour are employed
C) initially decreases and then increases as more units of labour are employed
D) decreases as more units of labour are employed
Correct Answer:
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Q1: In a perfectly competitive labour market an
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)
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