Author Question: Consider the labor market depicted in the above figure. The competitive equilibrium would be for ... (Read 70 times)

cmoore54 · **on:** Jun 29, 2018

Consider the labor market depicted in the above figure. The competitive equilibrium would be for workers to be paid an hourly wage equal to

A) 10.
B) 15.
C) 20.
D) None of the above answers is correct.

Question 2

If the ATC curve has a positive slope, then the MC curve must be

A) horizontal.
B) vertical.
C) above the ATC curve.
D) below the ATC curve.