Under Perfect Competition,the Supply Curve of Labor or Other Inputs

question 14

Multiple Choice

Under perfect competition,the supply curve of labor or other inputs to an individual firm is

• A) horizontal.
• B) backward bending.
• C) downward sloping.
• D) vertical.
• E) identical with the market supply curve of the input.

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Definitions:

Potential Lender

An individual or institution considering the provision of credit or loans to borrowers under specific conditions.

Department of Commerce

A division of a government that is concerned with promoting economic growth, trade, and market regulations.

Factoring

The practice of raising funds for a business through the sale of accounts receivable.

Finance Company

A business that provides loans to individuals or other companies, typically specializing in sectors like consumer finance, vehicle financing, or business loans.