In the Short Run,which One of the Following Causes a Competitive

question 19

Multiple Choice

In the short run,which one of the following causes a competitive firm to hire more labor?

• A) an increase in wage rate
• B) an increase in the output price
• C) a specific tax imposed on the firm's output
• D) a decrease in the output price

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Definitions:

Microscopic Organisms

Tiny living organisms, such as bacteria, viruses, protozoa, and some algae and fungi, that can only be seen with the aid of a microscope.

Freshwater

Water containing minimal amounts of dissolved salts, found in rivers, lakes, and streams.

Grasslands

Vast open areas where the dominant vegetation consists of grasses, often found in regions with either too much or too little precipitation for forests.

Limited Rain

Situations where an area receives lower than average precipitation over a period, which could lead to drought conditions.