Competition-Social Welfare problem

The purely competitive firm in the output market which hires from a purely competitive labor market will employ the labor at the point where VMP = W as the firm: (i) Operates in society's best interest. (ii) Wants to be quite fair to workers. (iii) Is egalitarian institution. (iv) Attempts to maximize the profits.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Functions of price mechanism What are

What are the various functions of price mechanism in a free market economy?

Q : Price elasticity for quantities and

Suppose that all these curves are infinitely long straight lines. There supply curve which is relatively (although not perfectly) price elastic for all quantities and prices is: (1) supply curve S1. (2) supply curve S2. (3) suppl

Q : Federal minimum wage rose over

The LEAST likely outcome, when the federal minimum wage is increased $1 over the equilibrium wage rate, that would be for the: (w) unemployment rate of teenagers and unskilled workers to rise. (x) quantity of unskilled workers supplie

Q : Market adjustments through a scarce good

Within below figure there is market for papayas: (1) a shortage exists at P2. (2) papayas are a free good at P0. (3) papayas are currently a scarce good. (4) consumer's demand prices equivalent P2 at quantity Q2. (5) the equ

Q : Signaling definition Can someone please

Can someone please help me in finding out the accurate answer from the following question. Job applicants employ polished resumes explaining education, skills and work experience, accompanied by the supportive letters of recommendation letters as tools in the procedur

Q : Relative concept about poverty A

A predictable reluctance through modern welfare recipients to trade all they own for the material possessions of a rich person by a much earlier period would be evidence which poverty is: (w) easily solved by income redistribution pro

Q : Higher interest rate in current

For current consumption growing preferences over future consumption would be evidenced from a: (w) higher interest rate. (x) more quick rate of investment. (y) larger government budget surplus. (z) surplus into the balance of trade.

Q : Highest hourly wages rate and lowest

From the given choices, in given graph Glynn would be happiest at: (1) point a. (2) point b. (3) point c. (4) point d. (5) point e. 1669_Lab</span></p>
</div>

</li>

</td>
</tr><tr>
<td>

<li>
<div class=

Q : Problem on harvesting-Production Can

Can someone help me in finding out the right answer from the given options. The speculator who purchases wheat at harvest time throughout the late falls or early on winter, contracts for its storage, and then vends the wheat afterward in the winter, spring or in summe

Q : Problems on Featherbedding The

The Contracts needing employment after some worker’s jobs have been made outdated by automation are illustrations of: (1) Labor-reducing protectionism. (2) Featherbedding. (3) Check-off provisions. (4) Yellow dog contracts. (5) Blacklisting.

Discover Q & A

Leading Solution Library

Avail More Than 1423169 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1941199
Asked

3,689

Active Tutors

1423169

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment