If a Firm Is Hiring a Certain Type of Labor

question 194

Multiple Choice

If a firm is hiring a certain type of labor under purely competitive conditions,

• A) its labor demand curve will be perfectly elastic at the market-determined wage rate.
• B) the labor supply curve will lie above the marginal labor cost curve.
• C) the labor supply and marginal labor (resource) cost curves will coincide and be upsloping.
• D) the labor supply and marginal labor (resource) cost curves will coincide and be perfectly elastic.

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