Refer to the given data. If this firm can hire as few or many workers as it wants at $8, it is:
A. hiring labor in a monopsony labor market.
B. hiring labor in a purely competitive labor market.
C. selling its product in a monopolized product market.
D. selling its product in a purely competitive product market.
B. hiring labor in a purely competitive labor market.
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A bond that pays a high interest rate
A. is more secure than one that pays a low interest rate. B. is guaranteed by the U.S. government. C. reflects the higher risk that the issuer will default. D. will sell for a high price.
A small amount of international debt can become a heavy burden on a developing economy if
a. interest payments are a large percentage of export revenues b. a trade surplus develops c. the economy grows rapidly d. the country becomes more developed e. total borrowings exceed the $50 million level fixed by the IMF
When a firm's fixed cost rises, its total profit curve shifts
a. up at every output level. b. down at every output level. c. left at every profit level. d. right at every profit level.
Which of the following workers is most likely to lose his/her job during a recession?
A. A barber B. A farmer C. A baker D. A construction worker