The demand for labor is different from the demand for final goods and services because
A) the law of demand does not apply to the demand for labor.
B) the demand for labor is derived from the demand for the good or service the labor is used to produce.
C) it is a demand for people, not inanimate objects.
D) the demand for labor is more inelastic than the demand for the goods and services produced with this labor.
B
You might also like to view...
When you are playing a game, you must anticipate the move that other players might be making
Indicate whether the statement is true or false
In the above figure, what would be the profit or loss at the profit-maximizing output for this natural monopolist?
A) -$300 B) $2,700 C) $2,100 D) -$1,200
Answer the following statement(s) true (T) or false (F)
1. In the United States, the first law dealing with drinking water was passed in the 1920s. 2. The first Safe Drinking Water Act (SDWA) was passed in the 1970s. 3. The Safe Drinking Water Act Amendments of 1996 represent the law currently in force. 4. The Drinking Water State Revolving Fund (DWSRF) was established under the original Safe Drinking Water Act of 1974. 5. Under the American Recovery and Reinvestment Act, $2 billion was earmarked for the Drinking Water State Revolving Fund.
We refer to the whole class of goods that firms will ________ in a completely unregulated market economy as public goods.
A. underproduce B. overproduce C. not produce at all D. Both A and C are correct.