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Which of the following statements regarding the demand for labour is false? Select an answer and submit
Which of the following statements regarding the demand for labour is false? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a If a firm is a monopolist in the product market, the firm's demand for labour is the same as the industry's demand for labour. If a firm is a monopolist in the product market, the firm's demand curve is more elastic than it would be if the firm were operating in a perfectly competitive product market. ? If a firm is a monopolist in the product market, it may or may not pay wages which are higher than the case in which the firm operates in a competitive output market. d If a firm is a monopolist in the product market, it may still behave as a wage taker in the labour market. e If the firm is a monopolist in the product market, the firm's demand curve is flatter then it would be if the firm were operating in a perfectly competitive product market.
Which of the following regarding the imperfect monopsonisitic competition model discussed in lecture is true: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The imperfect monopsonist will hire women only because their reservation wages are lower b The supply curve of women is more elastic than that of men ? The wage differences that arise between men and will will be eliminated because of competition between firms d The existence of wage differentials in equilibrium requires only that firms are able to identify which group an individual belongs to e There are wage differences between equally productive workers in long run equilibrium
In the efficiency wage model of the labour market: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a the firm selects only the employment level, taking the wage as given. b he firm selects only the wage level, taking the employment level as given. ? the firm selects the employment level and the wage jointly. d there is voluntary unemployment e in equilibrium workers shirk on the job
Expert Solution
For first MCQ
(a) If a firm is a monopolist in the product market, the firm's demand curve is more elastic than it would be if the firm were operating in a perfectly competitive product market.
Because A monopolist will face a lower elastic demand curve.
For 2nd MCQ
(b) The Supply Curve of Women is more elastic than that of men.
For 3rd MCQ
(b) The firm selects only wage level, taking the wage level as given.
Because The idea of the efficiency wage theory is that more wages can lead to more labour productivity because workers feel more motivated to work with higher pay. Therefore if firms increase wages some or all of the higher wage costs will be recouped through increased staff retention and higher labour productivity.
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