In a competitive labor market, generally a firm can _____ at the going price of labor.
A) hire no additional workers
B) double the amount of workers
C) lay off 50% of existing workers
D) hire as many workers as needed

Question

Quizplus · Accepted Answer

In a competitive labor market, firms can hire as many workers as needed at the going price of labor, as the market determines the price and there is typically a sufficient supply of labor to meet demand.

In a Competitive Labor Market, Generally a Firm Can _____