Price Taker in Labor Supply Curves market

When a firm is a price taker in the labor market, in that case the: (w) wage is constant for any quantity of labor this would hire. (x) marginal resource cost of labor is constant for any quantity of labor this would hire. (y) wage equals the marginal resource cost of labor for any quantity of labor this would hire. (z) All of the above.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Managerial Economics

Q : What are the characteristics of a

What are the characteristics of a business cycle?

Q : Illustrates the term shot run

Illustrates the term shot run production function?

Q : What is Demand Forecasting What is

What is Demand Forecasting?

Q : State Extrapolation statistical Method

States the Extrapolation statistical Method of Demand Forecasting?

Q : Explain the role of demand factor in

Explain the role of demand factor in pricing briefly.

Q : Value of the marginal product The value

The value of the marginal product is: (w) MPP × MR. (x) MPP × P. (y) MPP × MC. (z) MPP × MRC. Can anybody suggest me the proper explanation for given problem regarding Economics

Q : Illustrates the term economic cost

Illustrates the term economic cost concept briefly?

Q : Individual firm in purely competitive

A purely competitive resource market shows that an individual firm faces a resource supply curve which is: (w) perfectly inelastic. (x) perfectly elastic. (y) downward sloping. (z) backward bending.

Q : Surplus payment from society to

If a resource is in perfectly inelastic supply (like land), the resource price: (w) has no allocative function. (x) would rise only when resource demand falls. (y) is a surplus payment from society as an entire to resource owners. (z)

Q : Supply of Labor to Competitive Firms

For a firm hiring through a purely competitive labor market, in that case the supply of labor is: (w) greater than the MRC. (x) less than the MRC. (y) the same as the MRC. (z) vertical to parallel the wage rate.

Discover Q & A

Leading Solution Library

Avail More Than 1422617 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1927404
Asked

3,689

Active Tutors

1422617

Questions
Answered

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

Submit Assignment