The demand curve for labor slopes down because
A) firms value less efficient workers less than they value more efficient workers.
B) firms must lower prices to sell the additional units of its product that the extra workers produce.
C) of the law of diminishing marginal product.
D) of profit maximizing behavior.
C
You might also like to view...
The aim of development aid is basically to:
A) eradicate poverty. B) minimize international trade. C) eradicate corruption. D) boost population growth.
In the short run, a perfectly competitive firm can make a profit, a loss, or shut down.
Answer the following statement true (T) or false (F)
For a firm in a perfectly competitive product market, the marginal resource cost curve is horizontal if the resource market is also competitive
a. True b. False
Water is plentiful in most of the world, so its price and total utility are low
a. True b. False Indicate whether the statement is true or false