This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the supply of labor schedule decreases in a perfectly competitive labor market while the ... (Read 90 times)

tatyanajohnson

  • Hero Member
  • *****
  • Posts: 569
on: Apr 19, 2019

Question 1

In theory, if a profit-maximizing firm in a perfectly competitive labor market found it advantageous to hire one less worker, the firm should pay a


◦ lower wage rate but only to the most recently hired workers.
◦ higher wage rate but only to the most recently hired workers.
◦ lower wage rate to all previous workers hired.
◦ higher wage rate to all previous workers hired.

Question 2

Suppose the supply of labor schedule decreases in a perfectly competitive labor market while the market demand schedule remains unchanged. A profit-maximizing representative firm will


◦ hire more workers.
◦ hire less workers.
◦ hire the same number of workers.
◦ substitute capital for labor.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by tatyanajohnson on Apr 19, 2019

nanny

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


tatyanajohnson

  • Hero Member
  • *****
  • Posts: 569
Reply #2 on: Apr 19, 2019
TY


nanny

  • Sr. Member
  • ****
  • Posts: 313
Reply #3 on: Apr 19, 2019
You're welcome


« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

A substrate and its competitive inhibitor A substrate and its competitive inhibitor
Main Hall, Trajan's Market Main Hall, Trajan's Market
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
Testing the arterial supply to the lower extremities Testing the arterial supply to the lower extremities
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Competitive firms and maximization Competitive firms and maximization
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library