In a perfectly competitive labor market,if any one firm decreases the amount of labor it employs,the most likely result will be that the
A) market wage rate will rise
B) firm's revenue and cost will fall
C) market wage will fall
D) firm's revenue and cost will rise
E) firm's revenue will fall,but its cost will remain unchanged
Correct Answer:
Verified
Q28: Q29: Which of the following statements about a Q30: In a perfectly competitive labor market,the market Q31: The wage rate is constant along a Q32: The labor supply curve shows the relationship Q34: A change in the wage rate causes Q35: The demand for labor depends upon each Q36: In a perfectly competitive labor market,the supply Q37: The labor supply curve is obtained by Q38: As the market wage rate increases,it will
A)summing
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