The MRP curve for labor
a. is the same as the demand curve for labor for a competitive firm.
b. is the same as the supply curve for labor to a competitive firm.
c. will shift up when market wages rise
d. is characterized by both (a) and (b).
a
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Assume that the price elasticity of demand for gasoline is -0.06. If the government tax causes the price of gasoline to increase by 50 percent, what will be the decrease in the quantity of gasoline demanded?
A) 0.5 percent B) 3.0 percent C) 8.33 percent D) 50 percent
__________ occurs because firm owners have an incentive to understate their true riskiness to borrow on a more favorable basis
A) Moral hazard B) Adverse selection C) Manager-stockholder conflict D) Manager-lender conflict
Because of the kind of externalities that tend to be generated from general R&D resources bought by firms, the equilibrium price of R&D
A) is above the optimal level, and quantity is below the optimal level. B) is below the optimal level, and quantity is above the optimal level. C) and quantity of R&D are both above the optimal level. D) and quantity of R&D are both below the optimal level. E) must fall in order for the market to reach equilibrium.
One possible reason for Wal-Mart's success is that centralized-decision making provides economies of scale that allow it to aggressively bargain down wholesale prices of standard consumer goods
Indicate whether the statement is true or false