A characteristic of a purely competitive labor market would be:
A) many firms competing in hiring workers.
B) firms hiring different types of labor.
C) wage-maker behavior by the firms.
D) price-maker behavior by the firms.

Question

Quizplus · Accepted Answer

In a purely competitive labor market, many firms would compete to hire workers, meaning there would be no single entity dictating wages or working conditions. This type of market would be considered "perfectly" competitive, with no one firm holding enough market power to influence wages or working conditions.

A Characteristic of a Purely Competitive Labor Market Would Be