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 is derived from the demand for capital.
Correct Answer:
Verified
Correct Answer:
Verified
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Q3: Suppose Woody Chuck's business is to
Q4: Suppose the market for labor is
Q5: If a factor of production comes to
Q6: If an individual's supply of labor curve
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Q8: If the wage rate rises,labor's share in
Q9: Suppose a firm is a monopolist
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Q11: If the price of an input falls,a