A perfectly competitive firm's short-run supply is infinite at the market price
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Which of the following is likely to cause a decrease in the wage rate and an increase in the employment level of a country?
A) A left shift in the demand curve for labor, without any change in the supply curve for labor B) A left shift in the supply curve for labor, without any change in the demand curve for labor C) A right shift in the supply curve for labor, without any change in the demand curve for labor D) A right shift in the demand curve for labor, without any change in the supply curve for labor
Economics
If a product has very few substitutes, demand elasticity is likely to be
A) 1. B) elastic. C) infinitely elastic. D) inelastic.
Economics