Each of the following conditions,except one,must be satisfied in a perfectly competitive labor market.Which is the exception?
A) There are a large number of buyers of labor services.
B) Wages are the sole source of household income.
C) There are no barriers to entering the market.
D) There are a large number of sellers of labor services.
E) All workers appear the same to buyers of labor services.
Correct Answer:
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Q1: In a perfectly competitive labor market,no individual
Q3: A firm's labor demand curve is derived
Q4: To say that the demand for labor
Q5: Which of the following is an assumption
Q6: If the demand for automobiles increases,which of
Q7: A market in which resources are traded
Q8: In a perfectly competitive labor market
A)all firms
Q9: In a perfectly competitive labor market,
A)some workers
Q10: In factor markets,firms _ and households _.
A)demand
Q11: In factor markets,
A)individual consumers are the demanders
B)equilibrium
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