If the supply curve of labor facing a firm is upward sloping, this implies that
a. the firm is unable to hire additional workers
b. to hire additional workers, the firm must increase the wage rate
c. any number of workers can be hired at a fixed wage
d. additional workers can be hired at lower wage rates
e. the demand curve for the firm's good must be horizontal
B
Economics
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When total costs are greater than total revenue,
A) fixed costs must be high. B) a firm is suffering losses. C) a firm should shut down immediately. D) the firm must be producing on the elastic range of its demand curve.
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This sequential game illustrates a
a. Third mover advantage b. Second mover advantage c. First mover advantage d. No advantage based on moves
Economics