An increase in the supply of labor has the effect of decreasing the
a. wage.
b. marginal product of labor.
c. value of the marginal product of labor.
d. All of the above are correct.
d
Economics
You might also like to view...
If real GDP exceeds aggregate planned expenditure, then the change in unplanned inventories is ________ and firms ________ production
A) negative; decrease B) positive; increase C) zero; do not change D) negative; increase E) positive; decrease
Economics
If a firm sells its product in a monopolistic market, even though the firm operates in a perfectly competitive labor market, the firm will employ workers up to the point where
A) TR = TC. B) the MRP = the wage rate. C) the MRP = the marginal physical product of labor. D) the MRP = the output price.
Economics