What role do firms play in output markets? What role do firms play in factor markets?
What will be an ideal response?
Firms are the sellers in output markets and are the buyers in factor markets.
Economics
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Refer to the production possibilities frontier in the figure above. Which production point is unattainable?
A) point a B) point b C) point c D) point e
Economics
A decrease in the wage rate
A) shifts the firm's demand for labor curve rightward. B) shifts the firm's demand for labor curve leftward. C) leads to a movement along the demand for labor curve but does not shift the curve. D) None of the above answers is correct.
Economics