What is a determinant of the demand for labor by firms? Group of answer choices Government regulations The number of available workers Workers' preferences The productivity of labor
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The demand for labor refers to how many workers firms are willing and able to hire at a given wage rate. Show more…
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1.Access to computers increases the productivity of mail-order businesses, thus increasing the demand for their workers. The determinant of labor demand is Group of answer choices Increase in the price of the substitute Increase in the demand for the product where labor is used Decrease in the price of complement increase in labor productivity 2. Tourism increases in popularity, increasing the demand for workers at tourist resorts. The determinant of labor demand is Group of answer choices Increase in the price of the substitute Increase in productivity of labor Decrease in the price of complement Increase in the demand for the product where labor is used 3. The following is true about monopsony employer. Group of answer choices Monopsony employer will pay higher wages and hire higher quantity of labor. Monopsony employer will pay higher wages and hire lower quantity of labor. Monopsony employer will pay lower wages and hire higher quantity of labor. Monopsony employer will pay lower wages and hire lower quantity of labor. 4. Suppose the price of a complementary resource increases. What happens to the quantity of a resource purchased? Group of answer choices decreases increases no change can't determine 5. Promoting the good produced by the union labor is a strategy used by the following union model: Group of answer choices demand-enhancement model exclusive union model inclusive union model 6. Discouraging child labor is a strategy used by the following union model: Group of answer choices Inclusive union model exclusive union model demand-enhancement model
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If firms are competitive and profit-maximizing, the demand curve for labor is determined by a. the opprtunity cost of workers' time. b. the value of the marginal product of labor. c. offsetting income and substitution effects. d. the value of the marginal product of capital.
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1. The demand curve for labor would shift leftward as the result of: a decrease in the price of substitute resource an increase in price of the product a decrease in the productivity of labor. an increase in price of labor 2. Assume labor is the only variable input and that an additional input of labor increases total output from 72 to 78 units. If the product sells for $6 per unit in a purely competitive market, the MRP of this additional worker is: ________________ $36 6 30 1 3. If union is lobbying for stricter immigration rules. Determine the union model that uses this strategy to increase union worker’s wages. demand-enhancement model exclusive union model inclusive union model can't determine 4. Suppose union is promoting the good produced by the union workers. Determine the union model that uses this strategy to increase union worker’s wages. exclusive union model inclusive union model none demand-enhancement model 5. A profit-maximizing firm employs resources up to the point where: MRP<=MRC MRP >=MRC MR>=MC MP>=MRC
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