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Demand for Labor Multiple Choice Questions PDF p. 5

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"In a perfectly competitive market, the firm's marginal revenue product of labor is known as" MCQ PDF with choices marginal physical product of labor, marginal propensity to consume, value of the marginal product of labor, and marginal cost of labor for online business degree. Solve markets for factors of production questions and answers to improve problem solving skills to learn online certificate courses.

Demand for Labor Questions and Answers MCQs

MCQ: In a perfectly competitive market, the firm's marginal revenue product of labor is known as

marginal propensity to consume
marginal physical product of labor
value of the marginal product of labor
marginal cost of labor

MCQ: The process of social and economic change which is due to the reduction in industrial capacity or the activities of a country's manufacturing and heavy industry is known as

deindustrialization
industrialization
autarky
incomplete specialization

MCQ: The type of transactions that refers to achieve some economic motive like earning income and profit maximization is known as

foreign exchange payments
balance of payments
accommodating payments
autonomous payments

MCQ: A type of market structure in which employers compete to hire the best, and the workers compete for the best satisfying job is known as

labor market
capital market
duo market
monopsony

MCQ: The loss of economic efficiency that can occur when equilibrium for a good or service is not Pareto optimal is called as

dead weight loss
budget deficit
fiscal challenge
monetary challenge