Examlex
Which of the following is an assumption made about a competitive labor market?
Income
The revenue brought in, consistently over time, from professional endeavors or investments.
Budget Constraint
The limits imposed on household choices by income, prices, and taxes, defining the combination of goods and services they can afford.
Income
Proceeds obtained, often periodically, from labor or investment returns.
Utility
A measure of satisfaction or happiness that consumers derive from the consumption of goods and services.
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