Which of the Following Is Not Held Constant Along a Demand

question 174

Multiple Choice

Which of the following is not held constant along a demand curve for labor by a firm?

• A)the firm's technology of production 
• B)the price of the firm's output 
• C)the marginal product of labor for the firm 
• D)the price of substitutes for the firm's output

Understand the dynamics of entry and exit in a competitive market and its impact on equilibrium.

Understand the conditions that lead to zero economic profit in the long run within perfectly competitive markets.

Describe how a firm's supply curve is determined in a competitive market.

Understand the concept of scarce resources and their effect on the long-run supply curve in a competitive market.