Which of the following is not correct?
A) In a labor market, the wage adjusts to balance the supply and demand for labor.
B) A profit-maximizing firm hires workers so long as the wage rate exceeds the value of the marginal product of labor.
C) Any event that changes the supply or demand for labor must change the equilibrium wage.
D) Any event that changes the supply or demand for labor must change the value of the marginal product.
Correct Answer:
Verified
Q145: The Black Death in fourteenth-century Europe resulted
Q146: In a representative labor market,
A)the wage adjusts
Q147: The Black Death in fourteenth-century Europe resulted
Q149: Figure 18-7 Q152: Figure 18-7 Q153: Which of the following is correct? Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)Any event
