Register
Which of the following statements about a perfectly competitive market aretrue?I.The perfectly competitive industry faces an upward sloping labor supplycurve.II.The individual firm in a perfectly competitive
111k views
5 votes
Which of the following statements about a perfectly competitive market aretrue?I.The perfectly competitive industry faces an upward sloping labor supplycurve.II.The individual firm in a perfectly competitive industry faces a perfectly elastic labor supplycurve.A)IonlyB)IIonlyC)Both I andIID)Neither I norII

User TheWommies
by
5.5k points

1 Answer

2 votes

Answer:

C)Both I and II

Step-by-step explanation:

Yes, market industry equilibrium is achieved when market demand curve intersect upward sloping market supply curve.

In perfect competition wage rate are given to firm and at given wage rate labor supply curve is perfectly elastic.

User Shuja Ahmed
by
5.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.9m questions

7.6m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
Demonstrate how binomial nomenclature is related to classification systems by identifying the genus name and the specific name of the domestic cat felis catus
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
Link Copied!