Labor Supply Curves to the Competitive Firms

The price taker in labor market: (1) Can set the salary that it will pay for the labor it hires. (2) Can set the salary at which it supplies the use of its labor. (3) Doesn’t care what salary it pays or obtains. (4) Can’t influence the wage recognized by the market.

Find out the right answer from the above options.

#### Related Questions in Microeconomics

• ##### Q :Cost and revenue assume the firm is a

assume the firm is a price taker and faces a market price of €60 per unit. draw the AR and MR curves

• ##### Q :Find out price at maximizes profit

LoCalLoCarbo that is the favorite corporation of fad dieters maximizes profit at a price: (1) P1. (2) P2. (3) P3. (4) P4. (5) P5.

##### Q :Substitution and elasticity of good The

The price elasticity of demand is probable to be greater the: (1) more extensively the good is seems as a need. (2) better the obtainable alternatives for producers. (3) higher the opportunity costs of production. (4) larger the number of utilizes for

• ##### Q :When did marginal utility diminished

The marginal utility most obviously diminished whenever: (1) Eric sang six songs rather than only one on karaoke night at local club. (2) Molly’s piano lessons absorbed 20 hrs last week she could have used up for studying. (3) Karen built 12 boxes however only 9

• ##### Q :Depreciation expense The Realto Theatre

The Realto Theatre purchased a new projector costing \$37,000 on January 1, 2010. Since of changing technologies, the projector is predictable to last five years after which it will be obsolete and contain a salvage value of \$1,000 as a collectors item. Compute the

• ##### Q :Limitation of marginal revenue Marginal

Marginal revenue is NOT: (i) similar as average revenue or price for a competitive firm. (ii) identical to the price of output for firms along with monopoly power. (iii) specified by (change in TR)/ (change into Q) for all firms. (iv) derived by the d

• ##### Q :Probability of Law of Diminishing

Can someone help me in finding out the right answer from the given options. Karina gets 27 utils from her first ice-cream cone in an hour, and 23 extra utils from the second that hour. Determine the number of utils is she likely to obtain from the third cone? (i) 15 u

• ##### Q :Central bank as lender of last resort

The central bank performs as lender of last resort. Explain how?

Answer: The central bank too acts as lender of last resort for other banks of the country. This mea

• ##### Q :Monopsonist-marginal resource cost Can

Can someone please help me in finding out the accurate answer from the following question. The monopsonist will hire the labor until labor's marginal resource cost equivalents the: (i) Marginal revenue product of the labor. (ii) Marginal physical product. (iii) Value

• ##### Q :Find price elasticity of demand by arc

When the price of plastic moose heads increases from \$25 to \$35 and monthly sales drop by 2000 units to 1000 units, by using the arc elasticity formula, in that case their price elasticity of demand equals: (w) 1/3. (x) 3.0. (y) 2.0.