The labor supply curve faced by an individual firm in a perfectly competitive market is
A) upward sloping.
B) horizontal.
C) vertical.
D) downward sloping.
B
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Some economists claim that the Chilean experience during the 1990s was much more successful than its Latin American neighbors. Evaluate the Chilean policies during that decade
What will be an ideal response?
In the long run, total fixed cost will:
a. remain constant. b. increase. c. decrease. d. not exist by definition.
Which of the following events would shift money demand to the left?
a. an increase in the price level b. a decrease in the price level c. an increase in the interest rate d. a decrease in the interest rate
A 2 percent rise in the price of a good leads to a 4 percent decrease in quantity demanded. The absolute price elasticity of demand is
A) 2. B) 0.5. C) 20. D) 5.