Which of the following statements is TRUE?
A) A firm cannot increase quantity demand for labor when the wage rate falls without causing the product price to decline.
B) A movement along the market demand curve for labor does not require a change in the product price.
C) A firm can increase quantity demanded for labor when the wage rate falls without affecting the product price but the industry cannot hire more workers without causing the product price to fall.
D) Both a firm and the industry can move down their demand curves for labor without causing product price to change.
C
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Why do elephants face the threat of extinction while cows do not?
a. Cattle are a valuable source of income for many people, while elephants have no market value. b. There is a high demand for products that come from cows, whereas there is no demand for products that come from elephants. c. There are still lots of cattle that roam free, while all elephants live in zoos. d. Cattle are owned by ranchers, while elephants are owned by no one.
A disadvantage associated with grouping jobs on the basis of functional specialty is that
A. managers tend to ignore the interdependencies among units that might lower a firm's value. B. managers rely on implicit understanding and informal relationships. C. employees have to seek ratification from managers for initiation and implementation of decisions. D. employees concentrate more on achieving departmental goals rather than customer satisfaction.