The firm is in equilibrium in the factor market when it employs units of labour upto the point where

Related MCQs

• Equilibrium in the factor market achieved at the factor price and factor quantity is given by
• The labour market equilibrium determines the wage rate and
• In a perfectly competitive market a firm in the long run will be in equilibrium when:
• Equilibrium conditions for factor market is
• Factor market will be in equilibrium when
• We should employ units of a factor to a point where:
• If MRP = Price of the factor: firm should _______ at the unit of factor
• If equilibrium price rises but equilibrium quantity remains unchanged, the cause is:
• Factor prices are determined in the factor market under the forces of
• In market equilibrium, supply is vertical line. The downward sloping demand curve shifts to the rights. Then,