Multiple Choice
If the wage rate in a purely competitive labor market decreases,it will cause the:
A) labor supply curve for the industry to shift rightward.
B) labor supply curve for a single competitive firm to shift leftward.
C) marginal resource cost for a single competitive firm in the industry to decrease.
D) marginal resource cost for a single competitive firm in the industry to increase.
Correct Answer:
Verified
Correct Answer:
Verified
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