If the Wage Rate Increases

question 226

Multiple Choice

If the wage rate increases,

• A) a purely competitive producer will hire less labor, but an imperfectly competitive producer will not.
• B) an imperfectly competitive producer will hire less labor, but a purely competitive producer will not.
• C) a purely competitive producer and an imperfectly competitive producer will both hire less labor.
• D) an imperfectly competitive producer may find it profitable to hire either more or less labor.

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Definitions:

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