Firms in a competitive market are considered price takers because Use letters in alphabetical order to select options A there are a large number of buyers and a small number of sellers. B a small number of firms have a large influence on the market price. C firms produce a highly differentiated product. D no individual buyer or seller can affect the market price.

Consider the labor market for heath care workers. because of the aging population in the united states, the output price for health care services has increased. holding all else equal, what effect does this have on the labor market for health care employees? a. the equilibrium wage increases and the equilibrium quantity of labor increases. b. the equilibrium wage increases and the equilibrium quantity of labor decreases. c. the equilibrium wage decreases and the equilibrium quantity of labor increases. d. the equilibrium wage decreases and the equilibrium quantity of labor decreases.