The market supply curve for labor in a perfectly competitive labor market:
A) is horizontal or perfectly elastic.
B) is vertical or perfectly inelastic.
C) can be derived by vertically adding the individual supply curves of labor.
D) can be derived by horizontally adding the individual supply curves of labor.
D
Economics
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Refer to Table 20-1. The labor force participation rate for this simple economy equals
A) (1,100/15,000 ) × 100. B) (1,000/15,000 ) × 100. C) (1,000/1,100 ) × 100. D) (1,100/20,000 ) × 100.
Economics
Which of the following is (are) linked to (an) adverse supply shock(s)?
A) the terrorist attacks of 2001 B) collective bargaining that followed the termination of U.S. wage and price controls in 1973 C) the corporate scandals of 2002 D) all of the above E) none of the above
Economics