--%>

Price Taker in Labor Supply Curves market

When a firm is a price taker in the labor market, in that case the: (w) wage is constant for any quantity of labor this would hire. (x) marginal resource cost of labor is constant for any quantity of labor this would hire. (y) wage equals the marginal resource cost of labor for any quantity of labor this would hire. (z) All of the above.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Managerial Economics

  • Q : Best Potential Efficiency Wages

    Attempts to decrease shirking by paying workers more than they could earn within their next best potential jobs involves: (1) screening. (2) corporate acculturation. (3) efficiency wages. (4) signaling. (5) collective bargaining. H

  • Q : Strategy probable to make a cartel A

    A strategy probable to make a cartel successful would be for cartel members to: (w) give heterogeneous goods. (x) stagger the amount by that they raise prices. (y) have set enforceable production quotas. (z) keep high prices when several fringe compet

  • Q : Area of decision making in Managerial /

    Illustrates the area of decision making in Managerial / Business Economics?

  • Q : What are the various fields of Economics

    What are the various fields of Economics? Explain.

  • Q : Describe why firms may shut down

    If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid

  • Q : Illustrates the role of cost in pricing

    Illustrates the role of cost in pricing?

  • Q : Explain the meaning of price Explain

    Explain the meaning of price.

  • Q : Illustrates terms total cost

    Illustrates the terms total cost, average cost and also marginal cost?

  • Q : Value of Marginal Product of Labor The

    The social value of the extra output by additional units of labor is: (1) marginal revenue product of labor. (2) price of labor. (3) average revenue product of labor. (4) value of the marginal product of labor. (5) marginal resource cost of labor.

    Q : Making a decision regarding resource

    To make a decision regarding resource hire, the firm should take as: (w) the price of the resource. (x) the productivity (Marginal Price) of the resource. (y) output prices. (z) All of the above. How can I solve my Economic