When the marginal productivity of labor decreases, the demand curve for labor in a perfectly competitive market
A) does not change.
B) becomes flatter.
C) shifts to the right.
D) shifts to the left.
D
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Compute the actual investment in a mutual fund carrying a front-end load of 10 percent on a sum of $10,000 invested by an individual
a. $1,000 b. $10,000 c. $11,000 d. $9,000 e. $12,000
Answer the following statement(s) true (T) or false (F)
1. Social welfare would be increased if a monopolistically competitive industry were replaced with a competitive industry. 2. The Robinson-Patman Act was designed to stop resale price maintenance. 3. It is possible for a firm engaging in predatory pricing to make a profit on the good even thought the price is set artificially low. 4. It is possible to avoid the prisoners' dilemma as long as the interaction is repeated and has a definite ending date. 5. Fair trade refers to the fact that retailers are free to set their price in the absence of resale price maintenance.