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?

View Complete Question

Related Questions in Managerial Economics

Q : Supplies of Labor within Competitive

During a competitive resource market, every firm confronts a resource supply curve which is: (w) upwardly sloped. (x) backward bending. (y) perfectly inelastic. (z) perfectly elastic. I need a good

Q : Determine the demand when Demand and

Suppose that the auto market started at the intersection of D0S0, and in that case automakers opened foreign assembly plants after discovering which competent foreign employees worked for minor wages. How would it influence the auto market?: (

Q : Illustrations of investments in human

Illustrations of investments in human capital would comprise: (1) freeing slaves at the conclusion of the Civil War. (2) betting on the outcome of a professional wrestling match. (3) need people to pass a test on the U.S. Constitution before permittin

Q : Features of Marginal costing Write down

Write down the features of Marginal costing?

Q : State the assumptions of Law of Demand

State the assumptions of Law of Demand?

Q : Negatively sloped over wage ranges The

The supply curve of the labor is negatively sloped over wage ranges where the: (1) the demand for leisure rises along with income. (2) leisure is an inferior good. (3) people offer more hours of labor at higher wages. (4) some people

Q : Describe the Long term Demand

Describe the Long term Demand Forecasting.

Q : Use of Screening and Credentialism

Critics of the wide use of screening and signaling within hiring practices argue which: (w) formal training is never very important in preparing workers with necessary skills. (x) worker credentials tend to be negatively related to productivity. (y) l

Q : Illustrates the private cost of

Illustrates the private cost of production?

Q : Supply of labor by increase in wages

If the wage rate increases from $25 per hour to $40 per hour, in that case the elasticity of the supply of labor from this worker is roughly: (i) zero. (ii) 7/15. (iii) 13/15. (iv) one. (v) minus 13/15.

Discover Q & A

Leading Solution Library

Avail More Than 1421728 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1940625
Asked

3,689

Active Tutors

1421728

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment