In a competitive labor market, generally a firm can hire as many workers as needed:
A) at the market price of labor.
B) by doubling the hourly rate.
C) at minimum wage.
D) by advertising.

Question

Quizplus · Accepted Answer

In a competitive labor market, firms can hire as many workers as needed at the market price of labor, which is determined by the forces of supply and demand.

In a Competitive Labor Market, Generally a Firm Can Hire