Determine an individuals wage

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Reference no: EM13801662

1. Which of the following determine an individual's wage?

I the individual's skills

II. the productivity of the firm the individual works in

III. the shape of the individual's labor supply curve

A) I and II

B) I and III

C) II and III only

D) I, II, and III

2. If the price of output in an industry falls, firms in that industry will ______ labor.

A) increase their demand for

B) increase their supply for

C) decries their demand for

D) decries their supply for

Reference no: EM13801662

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