When market wages increase in a perfectly competitive market, then
A. the marginal factor cost increases.
B. the marginal factor cost decreases.
C. the marginal product decreases.
D. the marginal product increases.
Answer: A
Economics
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An employee who retains earned pension benefits after leaving a job has a pension plan that is
A) whole life. B) guaranteed. C) vested. D) funded.
Economics
If individuals are rational, they should choose actions that yield the:
A. largest total benefits. B. largest economic surplus. C. smallest total costs. D. smallest economic surplus.
Economics