ECS2604 Assignment 1 2021
TURORIAL LETTER ECS2604/101/3/2021
MCQ Assignment 01 2021
__________________________________________________________
Question 1.1 is based on the following diagram which represents
equilibrium in a perfectly competitive labour market.
[1] At point e wages equal demand for labour
[2] At point e the market is in equilibrium
[3] Workers are perfectly mobile seeking better wages
[4] There is perfect competition between employees and
employers
[5] All the above are correct
Comment: The market is in equilibrium when the labour demand and
supply curve meet.
________________________________________________________________________
______________
TURORIAL LETTER ECS2604/101/3/2021
MCQ Assignment 01 2021
__________________________________________________________
Question 1.1 is based on the following diagram which represents
equilibrium in a perfectly competitive labour market.
[1] At point e wages equal demand for labour
[2] At point e the market is in equilibrium
[3] Workers are perfectly mobile seeking better wages
[4] There is perfect competition between employees and
employers
[5] All the above are correct
Comment: The market is in equilibrium when the labour demand and
supply curve meet.
________________________________________________________________________
______________