When a Competitive Labor Market Is in Equilibrium

question 47

Multiple Choice

When a competitive labor market is in equilibrium:

• A)the marginal product of labor equals the wage rate paid to labor.
• B)workers are paid their marginal value product.
• C)the labor employed by each firm is equal.
• D)the marginal revenue is equal to the wage rate.

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Definitions:

Online Survey Designs

Strategies for creating and implementing surveys that are distributed and completed over the internet, considering factors like engagement and response rate.

Placebo Groups

Groups in experimental research that receive a treatment with no active therapeutic effect, used as a control to measure the impact of the actual treatment.

Waiting-list Control

A group in experimental research that does not receive the intervention during the study but is promised to receive it once the study is completed, used to control for placebo effects.

Operational Definitions

Precise descriptions of the variables used in a study, defining them in terms of the specific operations or techniques used to measure or manipulate them.