In a perfectly competitive resource market, the labor supply curve facing the single firm is
A) vertical.
B) horizontal.
C) downward sloping.
D) upward sloping.
B
You might also like to view...
Automatic stabilizers are provisions in the law which create automatic ________ in government spending or ________ in taxes when real output declines.
A. decreases; decreases B. increases; increases C. increases; decreases D. no change; no change
The demand curve in the figure above illustrates the demand for a product with a price elasticity of demand
A) equal to zero at all prices. B) equal to infinite at all prices. C) equal to one at all prices. D) that is different at all prices.
A profit-maximizing firm in monopolistic competition should shut down in the short run
a. if marginal revenue is less than price b. if price is always less than average total cost c. if price is always less than average fixed cost d. if price is always less than average variable cost e. under no circumstances
The United States has roughly how much of the world's population?
A. 15 percent. B. 20 percent. C. 5 percent. D. 10 percent.