Which of the following statements is TRUE about the market and individual firm's supply curve for labor?
A) The market supply curve is perfectly elastic and the individual firm's supply curve is perfectly inelastic.
B) The market supply curve is perfectly inelastic and the individual firm's supply curve is perfectly elastic.
C) The market supply curve is more elastic than the firm's supply curve.
D) The market supply curve is more inelastic than the firm's supply curve.
D
Economics
You might also like to view...
A forward exchange market contract obligates the owner to make a trade at a specified exchange rate a fixed number of days in the future
Indicate whether the statement is true or false
Economics
The accumulation of investments in people, such as education and on-the-job training, is known as
a. physical capital. b. human capital. c. efficiency wage. d. compensating differentials.
Economics