Asked by Andrew

In a perfect competitive market setting,which of the following would be a true statement?
a)market price automatically sets itself exactly at equilibrium
b)market price rarely trends toward the equilibrium value
c)wage rates trend toward marginal revenue product levels
d)wage rates mirror marginal revenue product levels exactly
Answered by vamsi
a,b,d
Answered by MK
Wage rates trend toward marginal revenue product levels.
There are no AI answers yet. The ability to request AI answers is coming soon!