The labor demand curve of a purely competitive seller:
A. slopes downward because the elasticity of demand is always less than unity.
B. slopes downward because of diminishing marginal productivity.
C. is perfectly elastic at the going wage rate.
D. slopes downward because of diminishing marginal utility.
Answer: B
Economics
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When you choose the solution that has the greatest benefit for you
a. implicit favorite model b. bounded rationality model c. econological model d. none of the above
Economics
Refer to Scenario 2.2. What is the effect of the BBP on the equilibrium price of dental care?
A) It unambiguously increases. B) It unambiguously decreases. C) It increases only if supply shifts more than demand. D) It increases only if demand shifts more than supply.
Economics