In a perfectly competitive labor market,no individual firm's employment decision can affect the market wage because
A) union agreements prevent any firm from altering the wage rate
B) each firm is ignorant of the market wage rate
C) the demand for labor is a derived demand
D) each firm hires a very small portion of the labor services available
E) the wage rate is regulated by the government
Correct Answer:
Verified
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
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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