An individual firm in a perfectly competitive labor market faces:
a. a downward sloping labor demand curve and an upward sloping labor supply curve.
b. a horizontal labor supply curve and a vertical labor demand curve
c. a horizontal labor supply curve and a downward sloping labor demand curve.
d. an upward sloping labor supply curve and a horizontal labor demand curve.
c
You might also like to view...
Assume the firms in a perfectly competitive market are initially incurring economic losses. An increase in supply would cause existing firms' economic losses to decrease
Indicate whether the statement is true or false
If a country's private saving is 100 and government saving is -100, domestic private investment
A) must be 200. B) must be zero. C) is equal to the net amount the economy borrows from other countries. D) is equal to the net amount the economy lends to other countries.
If the price of a firm's product is $10 and the firm faces a constant marginal cost of $4 that is equal to its (constant) average total cost, the profit from selling a unit of the firm's product from its inventory is equal to ________.
A) $6 B) $10 C) $4 D) $14
The Fed's low short-term interest rate policy from 2002-2004, along with housing regulations promoting low down-payment loans to sub-prime borrowers, encouraged
a. conventional 30-year, fixed rate mortgages which have relatively high default and foreclosure rates. b. conventional 30-year, fixed rate mortgages which have relatively low default and foreclosure rates. c. adjustable rate mortgages which have relatively low default and foreclosure rates. d. adjustable rate mortgages which have relatively high default and foreclosure rates.