To say that a firm is competitive in the labor market is to say that the firm can choose
a. both the wage it pays its workers and the number of workers it hires.
b. neither the wage it pays its workers nor the number of workers it hires.
c. the wage it pays its workers, but it cannot choose how many workers to hire.
d. the number of workers it hires, but it cannot choose the wage it pays its workers.
d
Economics
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With respect to labor supply, the income effect leads a person to want to work more in order to raise his or her income
Indicate whether the statement is true or false
Economics
When demand is elastic, the marginal revenue resulting from a decrease in price is:
A) positive. B) zero. C) negative. D) cannot be determined without more information.
Economics