If labor supply of unskilled workers is perfectly elastic, then a) the labor supply curve of unskilled workers is horizontal at the market-clearing wage. b) the labor supply curve of unskilled workers is vertical at the total number of unskilled workers in the market. c) firms face an increasing marginal cost of hiring unskilled labor. d) workers will supply more hours of labor to the market when wages i
If labor supply of unskilled workers is perfectly elastic, then a) the labor supply curve of unskilled workers is horizontal at the market-clearing wage. b) the labor supply curve of unskilled workers is vertical at the total number of unskilled workers in the market. c) firms face an increasing marginal cost of hiring unskilled labor. d) workers will supply more hours of labor to the market when wages i
Chapter10: Labor Markets And Income Distribution
Section: Chapter Questions
Problem 6SQP
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If labor supply of unskilled workers is perfectly elastic, then
a) the labor supply curve of unskilled workers is horizontal at the market-clearing wage.
b) the labor supply curve of unskilled workers is vertical at the total number of unskilled workers in the market.
c) firms face an increasing marginal cost of hiring unskilled labor.
d) workers will supply more hours of labor to the market when wages increase.
c) firms face a horizontal value of marginal product of employment curve.
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