The demand curve for labor is also
A) the supply curve for the output labor is used to produce.
B) the demand curve for the output produced with labor since the demand for labor is a derived demand.
C) the marginal product of labor curve.
D) the marginal revenue product of labor curve.
D
You might also like to view...
In a three-player game, if the game is symmetric and one player does not have a dominant strategy, then the other two players also have no dominant strategy
Indicate whether the statement is true or false
Which of the following do economists generally agree is an unacceptable method of bringing aggregate demand and supply into equilibrium?
A. Increases in the supply of money B. Inflation C. Deflation D. Increases in the government deficit
In a natural monopoly situation
A) there are large economies of scale relative to demand. B) the firm has an upward sloping average cost curve. C) producers try to differentiate their product with advertising. D) there is no need for government regulation.
The observation that a 1 percent increase in unemployment tends to lead to a 2 percent decrease in real output is known as
A. A recession. B. Okun's Law. C. A Lucas Wedge. D. Under allocation of resources.