The Marginal Revenue Product is likely to be wage inelastic if ?

Related Mcqs:

If people are made unemployed because of a fall in aggregate demand this is known as ?

A. Frictional unemployment B. Seasonal unemployment C. Cyclical unemployment D. Structural unemployment...

The natural rate of unemployment is likely to fall if ?

A. unemployment benefits increase B. Income tax increases C. More training is available for the unemployed D. Geographical immobility increases...

A decrease in the supply of labour is likely to lead to ?

A. A lower equilibrium wage and lower quantity of labour B. A lower equilibrium wage and higher quantity of labour C. A higher equilibrium wage and higher quantity of labour D. A higher equilibrium wage and lower quantity of labour...

Demand for labour is more likely to be wage inelastic if ?

A. Wages are a small proportion of total costs B. Demand for the final product is price elastic C. It is easy to replace labour D. Capital is a good substitute for labour...

In a perfectly competitive labour market firms are wage takers and the marginal cost of labour equals?

A. The average cost of labour B. The marginal product C. The marginal revenue D. The total cost of labour...