Multiple Choice
If the wage rate rises,then the firm's long-run marginal costs change,which in turn affects the firm's output level and its employment of labor.This phenomenon is known as
A) the substitution effect.
B) the scale effect.
C) the regressive-factor effect.
D) the factor-price effect.
Correct Answer:

Verified
Correct Answer:
Verified
Q26: If demand for output rises,producers' surplus increases
Q27: Marginal revenue product for labor for any
Q28: If the wage rate rises,then in the
Q29: When a monopsony hires an additional worker,it
Q30: A profit maximizing firm in any type
Q32: A monopsonist will continue to hire additional
Q33: The short-run demand curve for labor for
Q34: If two factors of production are substitutes
Q35: When labor is a regressive factor,a higher
Q36: Labor Demand and Labor Supply<br><br>The following questions