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MMLU-Pro / 7409 / Why is it that in a perfectly competitive market, firms hiring labor, as a group…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Why is it that in a perfectly competitive market, firms hiring labor, as a group will be forced to pay higher wage rates to obtain more workers?

category

economics

options

  1. Workers' productivity decreases, leading to higher wages.
  2. Workers form a cartel to control labor supply.
  3. Firms must raise wages to attract more workers.
  4. Technological advancements reduce the need for workers.
  5. Firms have a surplus of workers
  6. Unemployment rates are high
  7. The government mandates an increase in wages.
  8. A decrease in the supply of labor available.
  9. Firms voluntarily increase wages as a goodwill gesture.
  10. Workers demand less money

src

stemez-Economics

Discussion

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Source and history

upstream_id / Original problem ID
7409
task_id
a0772c61-b7fc-56f2-9a95-4859be644b89
task_key
default--test--7409
task_revision_id
1
config / split
default / test

Official source

initial import