How will an increase in population affect the labor market? A) ...

[tatyanajohnson]

How will an increase in population affect the labor market?
 
  A) It will increase the supply of jobs.
  B) It will shift the market supply curve.
  C) It will cause a decrease in the quantity of labor demanded.
  D) It will increase the opportunity cost of leisure.

Question 2

In the long run, a perfectly competitive market will
 
  A) produce only the quantity of output that yields a long-run profit for the typical firm.
  B) generate a long-run equilibrium where the typical firm operates at a loss.
  C) supply whatever amount consumers demand at a price determined by the minimum point on the typical firm's average total cost curve.
  D) supply whatever amount consumers will buy at a price which earns the market an economic profit.

[ynlevi]

Answer to Question 1

B

Answer to Question 2

C