A profit maximizing firm under a perfectly competitive market employs more and more variable input labour until

Related MCQs

• The supply curve of the input that a firm faces under a perfectly competitive market is
• The demand curve for labour under perfectly competitive market is
• A perfectly competitive firm gets only normal profit when
• The supply curve of an input that a firm faces under an imperfectly competitive market is
• Under perfectly competitive market an individual seller is a
• When the perfectly competitive firm and industry are both in long run equilibrium
• The short-run supply curve of a perfectly competitive firm is given by
• Let labour is the only variable input, a monopsonist maximizes his or her profit when
• Which of the following is not a feature of a perfectly competitive market
• Which of the following industry is most closely approximates the perfectly competitive model.