If Labor Supply of Unskilled Workers Is Perfectly Inelastic, Then

question 7

Multiple Choice

If labor supply of unskilled workers is perfectly inelastic, then

• A) firms face an increasing marginal cost of hiring unskilled labor.
• B) firms face a horizontal value of marginal product of employment curve.
• C) the labor supply curve of unskilled workers is horizontal at the market-clearing wage.
• D) the labor supply curve of unskilled workers is vertical at the total number of unskilled workers in the market.
• E) workers will supply more hours of labor to the market when wages increase.

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Demographic

Statistical characteristics of human populations, such as age, gender, income, and education, used for identifying and analyzing target audiences.

Educational Attainment

The highest level of education an individual has completed, often used as a measure of workforce qualifications or socio-economic status.

Family Life Cycle

Stages through which a family progresses over time, from single individuals to married couples, parenthood, and retirement.

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Individuals or groups who actively seek out new and exciting forms of entertainment, often through digital platforms or live events.