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25 September, 21:44

How does the labour supply curve differ for a firm than it does for a perf competative market

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  1. 25 September, 23:55
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    Answer and explanation:

    In a perfectly competitive market, companies are said to be "wage takers". It implies the employees' wages are determined by the industry instead of the firms alone. It also implies that the equilibrium wage will be determined in the market and that the supply of labor is perfectly elastic to the rate established.
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