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Social Science Clinic => Economics => Topic started by: panfilo on May 25, 2020

Title: When economists assume perfect markets for labour they are NOT assuming
Post by: panfilo on May 25, 2020

Question 1

When economists assume perfect markets for labour they are NOT assuming
◦ freedom of entry into all labour markets.
◦ workers and employers are price-takers.
◦ a minimum wage.
◦ workers are all alike.

Question 2

When economists assume perfect markets for labour they are NOT assuming
◦ freedom of entry into all labour markets.
◦ perfect knowledge by workers and employers.
◦ rational behaviour by workers and employers.
◦ equity.

Title: When economists assume perfect markets for labour they are NOT assuming
Post by: chjcharjto14 on May 25, 2020

Answer 1

a minimum wage.

Answer 2

equity.

Title: Re: When economists assume perfect markets for labour they are NOT assuming
Post by: blabla234 on Mar 29, 2021

Thank You