--%>
Assignment Help - homework help

Wage Flexibility

An assumption regarding purely competitive labor markets to make sure market clearing is which: (w) firms maximize profit. (x) individuals and households maximize utility. (y) wages and prices are flexible. (z) trade unions engage in collective bargaining.

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

   Related Questions in Managerial Economics

  • Q : Very high fixed costs in contestable

    A market is improbable to be contestable when entry needs new firms to incur very high: (w) variable costs. (x) fixed costs. (y) principal-agent problems. (z) marginal costs. I need a good answer on the topic of Economics <

    		•
  • Q : More productive firm for labor Workers

    Workers who keep their jobs will be more productive after firms adjust to raises in: (1) competition in an industry. (2) wages. (3) technological advances. (4) capital costs. (5) government regulation. Hey friends please give your

    		•
  • Q : Surpluses quantity for Supply and Demand

    When an exceptionally warm winter caused the quantity of cashmere sweaters supplied to exceed the quantity demanded at the present market price, in that case: (1) cashmere sweaters will be more heavily demanded subsequent year than this year. (2) an overload of cashme

    		•
  • Q : Illustrates the merits of scarcity

    Illustrates the merits of scarcity definition?

    		•
  • Q : States the term Shift in Demand States

    States the term Shift in Demand?

    		•
  • Q : Introduction of the term Margin of

    Provide a brief introduction of the term Margin of Safety?

    		•
  • Q : Define the difference between

    Define the difference between accounting and economic cost.

    		•
  • Q : Labor Productivity Where diminishing

    Where diminishing returns overwhelm gains through the division of specialized labor, when there is an inflection point on the total revenue curve derived by a total output curve, and by the vantage point of a purely competitive firm h

    		•
  • Q : Labor demand increases and supply

    Wages tend to increase while labor demand: (w) and supply both decrease. (x) decreases and supply increases. (y) and supply both raise. (z) increases and supply decreases. Please choose the right answer from above.

    		•
  • Q : Income and Substitution Effects When

    When the income effect of a higher wage rate is extremely powerful in that case the substitution effect, the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases like income rises. (3) human capital effect is stronger

    		•