Equilibrium in the factor market achieved at the factor price and factor quantity is given by
A) The intersection of the factor demand curve and the factor supply curve
B) The sum total of the elasticities of demand and supply
C) The product of the elasticities of demand and supply
D) none
Correct Answer:
Verified
Q1: The firm is in equilibrium in the
Q3: Monopsony means
A)A single seller
B)A single buyer
C)Large number
Q4: Monopoly means
A)A single seller
B)A single buyer
C)Large number
Q5: Factor prices are determined in the factor
Q6: The labour market equilibrium determines the wage
Q7: Equilibrium conditions for factor market is
A)Demand for
Q8: Demand for factor of production is
A)Supplementary demand
B)Intermediate
Q9: Factor market will be in equilibrium when
A)Demand
Q10: Which of the following is not a
Q11: The supply of a good refers to:
A)Stock
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