Multiple Choice
Which of the following statements is true of frictionless labor markets?
A) In such markets, firms can instantly hire and fire workers.
B) In such markets, all firms pay below the equilibrium wage rate.
C) In such markets, the quantity of labor demanded always exceeds the quantity of labor supplied.
D) In such markets, the quantity of labor supplied always exceeds the quantity of labor demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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