If the wage rate in a purely competitive labor market decreases, it will cause the: Multiple Choice marginal resource cost for a single competitive firm in the industry to decrease. labor supply curve for the industry to shift rightward. marginal resource cost for a single competitive firm in the industry to increase. labor supply curve for a single competitive firm to shift leftward.
If the wage rate in a purely competitive labor market decreases, it will cause the: Multiple Choice marginal resource cost for a single competitive firm in the industry to decrease. labor supply curve for the industry to shift rightward. marginal resource cost for a single competitive firm in the industry to increase. labor supply curve for a single competitive firm to shift leftward.
ChapterP3: Market Structure
Section: Chapter Questions
Problem 9KC
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