If markets were perfect, then labor and other costs of production would be perfectly stable (no movement across borders).

Name: If markets were perfect, then labor and other costs of production would be perfectly stable (no movement across borders).
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Question

Quizplus · Accepted Answer

Perfect markets imply that resources can move freely across borders in search of better opportunities, including labor and other factors of production. Therefore, labor and other costs of production would not be perfectly stable in such markets.

If Markets Were Perfect, Then Labor and Other Costs of Production