Multiple Choice
A firm's demand for labor is known as a "derived demand" because:
A) the firm gains utility from hiring more labor.
B) the amount of labor hired depends upon how much output the firm can sell.
C) the wage rate paid to workers is derived from the market for labor.
D) it's derived from the demand for capital.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: If a firm is a price taker,its
Q7: In order to maximize profits,a firm should
Q8: If a firm wished to maximize total
Q10: If a firm is a price taker
Q11: Profit functions are homogeneous of degree:<br>A)zero in
Q14: If a price-taking firm's production function is
Q17: One implication of the fact that profit
Q19: If the demand curve a firm faces
Q25: Which of the following conditions would result
Q28: A firm will hire additional units of