The long-run labour demand curve is relatively flatter than the short-run labour demand curve because, in the short run
A) the wage rate is fixed.
B) the firm cannot vary the amount of capital used.
C) the firm is a price taker.
D) All of the above
Ans: B) the firm cannot vary the amount of capital used.
You might also like to view...
The short-run aggregate supply curve: a. Is a schedule showing the relationship between the price level and the quantity of real GDP supplied. b. Is typically upward sloping
c. reflects output prices changing relative to input prices. d. all of the above
Rent seeking
a. often entails large opportunity costs. b. prevents waste of resources. c. often promotes fairness in distribution of resources. d. cannot occur in a planned economy.
Suppose researchers discover a new, lower cost method of producing calculators. As a result, will the supply of calculators increase or decrease?
________ is caused by the fact that taxes distort economic decisions.
A. Market failure B. Excess burden C. Neutrality D. Tax shifting