Multiple Choice
The phenomenon whereby labor decreases in response to a decrease in the wage rate is called
A) the substitution effect.
B) the scale effect.
C) derived demand from a change in wage.
D) the factor regressivity of labor.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q63: According to the standard competitive model,industries with
Q64: A firm's revenue minus its factor payments
Q65: Suppose a firm hires labor in a
Q66: A firm can sell as many units
Q67: When labor and capital are complements in
Q68: For a regressive factor the scale effect
Q69: In the long run,a competitive firm that
Q70: Reducing Long-Run Labor Usage<br><br>The following questions refer
Q71: When a firm's long-run demand curve for
Q72: An increase in the price of labor