--%>
Assignment Help - homework help

Purely competitive labor markets in long run equilibrium

When all labor were fundamentally very similar then, in long run equilibrium for purely competitive labor markets as: (w) money wages will be equal for all workers. (x) the net advantages of working in various occupations will be equal. (y) workers in the same occupation in the same area may be paid different prices for their labor. (z) wage differentials are determined through union membership.

Hey friends please give your opinion for the problem of Economics that is given above.

   Related Questions in Managerial Economics

  • Q : Wage Rates and Marginal Resource Costs

    When all markets wherein a firm operates are purely competitive, in equilibrium the marginal resource cost of labor is the same to the: (w) firm’s marginal revenue. (x) marginal cost of output. (y) wage rate the firm must pay to hire more worker

    		•
  • Q : Define Cost Volume-Profit relationship

    Describe briefly Cost Volume-Profit relationship?

    		•
  • Q : States the Welfare Definition in

    States the Welfare Definition in economics?

    		•
  • Q : Value of the Average Product Hulk is a

    Hulk is a fitness counselor who coaches five clients at a time during exercise groups at Beefcake Body Builders. Hulk’s hourly wage is of $17, and Beefcake charges his clients $20 for every hour-long conditioning session. Therefore average value of produ

    		•
  • Q : Negatively bending Labor Supplies An

    An individual’s labor supply curve is negatively sloped that is backward-bending into a range of wages while the: (i) demand for goods exceeds the demand for leisure. (ii) worker offers more hours of labor while the wage rate in

    		•
  • Q : Value of the Marginal Product and

    When a firm is a price taker in the sale of its product, in that case labor’s: (w) ARP (Average Revenue Product) = MRP. (x) ARP = VMP. (y) VMP > MRP. (z) VMP = MRP. Can someone explain/help me with best so

    		•
  • Q : Introduction of the term Break Even

    Give a brief introduction of the term Break Even Point. How does BEP aid in making business decision?

    		•
  • Q : Define the pricing of a new product

    Define the pricing of a new product.

    		•
  • Q : Government license in operating

    Gilligan is hiring new workers to help run his Island Getaway resort. Gilligan makes a decision that he will not hire a new worker unless they have been properly trained and certified into wilderness survival and have a license by the government to operate watercraft.

    		•
  • Q : Cost concept of business operation and

    Categories the cost concept of business operation and decision making?

    		•