Question 109
Multiple Choice

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm. img TABLE 13- 3 -If at a particular wage rate in a competitive labour market the quantity demanded of labour is less than quantity supplied of labour,then

A)the demand curve for labour will shift to the right.
B)some workers will begin to accept lower wages and induce employers to hire more workers.
C)a black market for labour will form,with firms offering workers very high wages.
D)the supply curve for labour will shift to the right.
E)there will be a shortage of labour,thereby increasing the equilibrium wage rate.

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.


Explore our library and get Economics Homework Help with various study sets and a huge amount of quizzes and questions


Study sets





Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans