In a perfectly competitive industry, an individual firm faces
A) a perfectly inelastic labor supply curve.
B) a perfectly vertical labor supply curve.
C) a perfectly elastic labor supply curve.
D) none of the above.
C
Economics
You might also like to view...
The construction of the economy's marginal social benefit curve for a public good reflects the fact that
A) all the individuals can consume the same unit of the good. B) more than one supplier can provide the good. C) the same unit of the good cannot be simultaneously shared by more than one person at a time. D) the government can supply a public good at a lower cost than can a private supplier.
Economics
Which line in the figure shows a more elastic supply for euros?
A) Line S B) Line S' C) There elasticities are the same. D) This cannot be determined from the graph.
Economics