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The inflexibility of the work force.
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What is limits the freedom of workers in the labor market?
The inflexibility of the work force.
Which is the following limits the freedom of both employers and workers in the labor market?
The existence of a minimum wage.
What limits the freedom of both employers and workers in the labor market?
The inflexibility of the work force.The inflexibility of the work force.
Ask us of the following limits the freedom of both employers and workers in the labor market?
The existance of minimum waqe.
What is the effect of outsourcing on the labor market in the United states?
The supply of workers has increased!
What are the restriction on both workers and producers that keeps the labor market from being a completely free market?
the minimum wage.
What is a restriction on both workers and producers that keeps the labor market from being a completely free market?
the minimum wage
Which of the following is a restriction on both workers and producers that keeps the labor market from being compleatly free market?
The minimum wage
What states one reason why the labor market isn't a completely free market?
Workers can't always change jobs when they want to.
What is a symbolic interactionist looking at when studying the labor market?
how workers view themselves. just finished my quiz on apex. :)
What are the concepts of labor market?
The labor market refers to the supply and demand for labor, where employers seek individuals to fill job vacancies and workers offer their skills in exchange for wages. Key concepts include labor supply, which pertains to the number of workers willing to work at various wage levels, and labor demand, which reflects employers' need for workers based on economic conditions and business needs. Factors such as education, skills, and geographic location also influence labor market dynamics, along with external elements like government policies and economic trends. Additionally, concepts like unemployment, wage rates, and labor force participation are critical for analyzing labor market health.
Why monopsonist hires fewer workers than a firm in competitive labor market?
A monopsonist hires fewer workers than a firm in a competitive labor market because it is the sole buyer of labor, giving it greater market power to set wages. Unlike competitive firms that accept the market wage, a monopsonist must raise wages to attract additional workers, leading to higher marginal costs for hiring. As a result, the monopsonist will hire workers up to the point where the marginal cost of labor equals the marginal revenue product, which typically occurs at a lower quantity of employment compared to competitive firms. This results in a lower overall employment level in the monopsonistic market.
