When hiring additional workers, a firm operating in a perfectly competitive labor market will
A) have to offer higher wages to hire additional workers, but the old workers do not get the higher wage.
B) have to offer higher wages to hire additional workers, and the old workers will also receive the new, higher wage.
C) be able to hire additional workers without offering higher wages.
D) be able to hire additional workers at lower wages because the new workers have been unemployed.
C
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Staggered price setting ________
A) leads to frequent price adjustments B) occurs when firms fail to consider the behavior of their competitors C) is generally illegal D) all of the above E) none of the above
Which firm is not dealing with adverse selection
a. a manufacturer requires a 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer requires suppliers to be ISO 900 . certified d. Smokers get the same life insurance rates as non-smokers