Which of the Following Statements Is True If a Firm

question 10

Multiple Choice

Which of the following statements is true if a firm is operating in a competitive labour market?

• A) The supply of labour is horizontal at the market wage.
• B) The marginal cost of labour curve lies above the supply curve.
• C) The marginal cost of labour curve lies below the supply curve.
• D) It must also be operating in a competitive output market.
• E) The demand for labour is the marginal product of labour curve.

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Definitions:

Chemical Activity

The measure of the reactivity level of a chemical substance when it undergoes a chemical reaction.

Transcranial Magnetic Stimulation (TMS)

A treatment procedure for depression and certain other disorders in which an electromagnetic coil, which is placed on or above a person’s head, sends a current into the person’s brain.

Electromagnetic Coil

A coil used to generate a magnetic field when electricity is passed through it, often used in scientific and industrial applications.

Brain Stimulation

Therapeutic techniques using electrical impulses or magnetic fields to directly or indirectly stimulate specific areas of the brain to treat neurological or psychiatric conditions.