Which of the following is an assumption made about a competitive labor market?
A) A firm must offer a higher wage rate to attract more labor.
B) A firm must offer a lower wage rate to attract more labor.
C) A firm cannot influence the market wage rate.
D) The labor supply curve facing each firm is inelastic.
E) Workers compete for jobs and firms pay a variety of wage rates.
Correct Answer:
Verified
Q1: In a perfectly competitive labor market,no individual
Q2: Each of the following conditions,except one,must be
Q3: A firm's labor demand curve is derived
Q4: To say that the demand for labor
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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