A Firm Sells Staples in a Perfectly Competitive Market and Hires

question 4

Multiple Choice

A firm sells staples in a perfectly competitive market and hires workers from a perfectly competitive labor market.Which of the following is true?

• A)The supply curve of staples is horizontal.
• B)The supply curve of workers is horizontal.
• C)The firm's demand curve for labor is horizontal.
• D)The firm's marginal cost is decreasing.
• E)The marginal product of labor curve is horizontal.

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Definitions:

Anxiety

A feeling of worry, nervousness, or unease, often about an imminent event or something with an uncertain outcome.

Obsession

A persistent, unwanted thought, idea, or image that an individual cannot control, causing significant anxiety or distress.

Climbing

The physical activity of ascending inclined structures or natural terrain using one's hands, feet, or other body parts for support and movement.

Thoughts

Mental processes that involve the organization and understanding of information, including beliefs, opinions, and intentions.