Business
Business, 26.08.2019 21:30, Turtles8276

Which best describes the supply and demand curves for a firm hiring labor in a perfectly competitive labor market?

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Business, 13.07.2019 01:10, zoeedadoll
Afirm produces its product using only labor. its production function is q = 20lminusupper l squared, where q is the number of units of output produced and l is the number of labor hours used. the firm purchases labor in a competitive labor market at the going wage rate of w = $11 per hour. the firm sells its output in a competitive market at the market price of p = $3. to maximize profit, the firm should use hours of labor and produce units of outputthe firm's profit will be $
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Business, 02.08.2019 22:10, Animallover100
The existence of noncompeting groups and other occupational differences in labor markets means that a. homogeneous, competitive labor markets are possible in the short run. b. the market demand curves for all labor groups are highly price inelastic. c. wages have little or no effect on the supply curves of labor. d. the government must step up in to ensure that enough people enter unskilled occupations. e. wage differentials will tend to persist over time.
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Social Studies, 01.09.2019 08:00, kinglightskin2k
Which sentence describes how the labor market is like other markets? a) wages are high when both the supply and demand for labor are low. b) wages are high when both the supply and demand for labor are high. c) wages are high when the supply of labor is high and the demand for labor is low. d) wages are high when the supply of labor is high and the demand for labor is high. , i keep getting mixed up with the question xd also, would you classify economics for social studies or business for the category?
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Business, 07.11.2019 20:31, rakanmadi87
Consider the labor supply and labor demand functions below, where w is the hourly wage and h is the hours worked per day. labor supply: w=5+2.5h labor demand: w=26-0.5h a) compute the daily profit of the firm assuming that other factors of production are all costless. show all the steps. also, draw the labor supply and labor demand lines, and identify the economic profit area.
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