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MMLU / When a perfectly competitive labor market is in equilibrium,

Problem

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question

When a perfectly competitive labor market is in equilibrium,

choices

  1. everyone who wants to work has the opportunity to do so
  2. individual firms face downward sloping labor demand curves
  3. unemployment can reach as high as 10-15 percent
  4. individual firms face upward sloping labor demand curves

subject

high_school_microeconomics

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Source and history

Official source

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