Question 1 1 / 1 pts When a firm is a price taker in the goods market, it has no control over market price. When a firm is a price taker in the labor market, it has no control over the quantity of workers it hires Correct! the wage paid to the workers it hires the amount of output it produces the price of the output it produces
When a firm is a price taker in the labor market, it cannot control the market wage. Question 2 1 / 1 pts The additional revenue earned by the last extra worker hired is referred to as
