--%>
Assignment Help - homework help

Supply of labor in a perfectly competitive market

Supply of the labor in a perfectly competitive market is: (i) An upward sloping curve. (ii) The horizontal line. (iii) Above the MRC. (iv) Beneath the MRC.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Variation in price elasticity as price

    The only supply curve which has price elasticity which varies as the price of output increases is within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

    Q : Price discriminate by monopoly firms

    Monopoly firms which can’t price discriminate: (a) are generally forced to shut down into the long run. (b) find this impossible to bar entry by new competitors within the long run. (c) by producing maximize profit where average

    		•
  • Q : Define macroeconomics Define

    Define macroeconomics?

    		•
  • Q : Minimal Materials in Relative Poverty

    After the minimal materials essential for survival are attained, poverty becomes: (w) an absolute concept. (x) more prevalent in North America than elsewhere. (y) measured by the income level required to meet minimal psychological needs. (z) a relativ

    		•
  • Q : Minimum possible economic losses Hello

    Hello guys I want your advice. Please recommend some views for below illustrated figure of Economics problem that for this profit-maximizing pure competitor, area Pbgh signifies: (1) fixed cost (TFC). (2) average fixed cost (AFC). (3)

    		•
  • Q : Influence of short run supply In short

    In short run, the supply of Pinot Noir from the viewpoints of oenophiles who fancy it would be influenced least by: (i) The offspring of late baby boomers arriving the legal age to buy alcohol. (ii) Imposition of a maximum tax for each and every bottle of wine generat

    		•
  • Q : Condition for deficit in balance of

    What is the condition when there is a deficit in balance of trade? Answer: When import > export

    		•
  • Q : Zero economic profit in long run When

    When the best a monopolist can do to produce an economic profit of zero, this will: (w) shut down in the long run. (x) shut down in the short run. (y) remain in operation in the long run. (z) raise its price to raise profit.

    Q : Profit maximized by nondiscriminating

    A nondiscriminating unregulated monopolist maximizes profit by: (w) charging the highest price the market will bear. (x) often changing designs and building in planned obsolescence. (y) setting marginal costs equal to marginal revenue [MC = MR]. (z) s

    		•
  • Q : Comparable the changes in TC and TVC

    Tell me the answer of this question. In comparing the changes in TC and TVC associated with an additional unit of output, we discover that: A) the change in TVC is equal to MC, while the change in TC is equal to TFC. B) the change in TC exceeds the change in TVC. C) t

    		•