352) Which of these two assumptions must be made if a firm’s demand curve for a given type of labour is to be the same as its MRP curve for that labour? X No matter what the wage rate is, and no matter how many workers the firm hires, it will always
Answer is:
Both X and Y.
Related Micro Economics MCQ (GK Set-1) with Answers
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If labour became more productive, the firm would be sure to demand less labour
Answer is:
Because Y is earning some economic rent, the firm which hires Y could reduce the wage and Y would continue to work for that firm
Answer is:
Those with high wages which result from them possessing the innate ability to develop some skill to a very high level
Answer is: