An individual firm in a perfectly competitive labor market faces:
A) a downward-sloping labor demand curve and an upward-sloping labor supply curve.
B) a horizontal labor supply curve and a vertical labor demand curve
C) a horizontal labor supply curve and a downward-sloping labor demand curve.
D) an upward-sloping labor supply curve and a horizontal labor demand curve.
E) a vertical labor supply curve and a horizontal labor demand curve.
Correct Answer:
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