For a factor price taker, the factor supply curve is __________, whereas the market factor supply curve is __________.

Question

Quizplus · Accepted Answer

For a factor price taker, the individual's factor supply curve is horizontal, indicating they accept the market price without influencing it. The market factor supply curve is upward sloping, reflecting that as prices increase, more of the factor is supplied to the market.

For a Factor Price Taker, the Factor Supply Curve Is