Which of the following is not true about the demand curve for labor of a competitive firm?
a. As the wage rate the firm pays decreases, the quantity of labor it demands (employs) increases
b. It shows how much labor the firm is willing to employ at different wage rates.
c. It is identical to the marginal revenue product curve of labor.
d. The wage rate exceeds the workers' opportunity costs.
e. It is downward sloping.
D
You might also like to view...
Who is likely to complain to state regulatory authorities about unlicensed movers defrauding customers?
A) Consumer organizations B) Individual customers who are planning to move C) Individual customers who have already used unlicensed movers and have not been thoroughly satisfied D) Licensed movers E) Unlicensed movers
Studies in industrially advanced nations indicate that a 3 percent increase in incomes will generate a:
A. 1 percent increase in the amount of health care demanded B. 1.5 percent increase in the amount of health care demanded C. 3 percent increase in the amount of health care demanded D. 6 percent increase in the amount of health care demanded