Question
Question 6 of 15 In our analysis of the labour market we assume the following: 1. Labour is the only factor of production used in
Question 6 of 15
In our analysis of the labour market we assume the following:
1. Labour is the only factor of production used in the production of output.
2. Labour productivity, the price of oil and other raw material stay constant.
3. The price of products set by firms is based on cost plus a mark-up.
- A.Only 1
- B.Only 1 and 3
- C.Only 3
- D..Only 2 and 3
- E.1, 2 and 3
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann
1st Edition
0324359810, 9780324359817
