Other things equal, assume consumer demand for children's toys increases. The result is a(n):

Question

Quizplus · Accepted Answer

An increase in consumer demand for children's toys leads to a higher demand for labor in the toy industry, as firms need more workers to produce the increased quantity of toys. This results in a rightward shift in the market demand for labor (A), an increase in the marginal revenue product of firms (B), and an increase in derived demand for workers (C).

Other Things Equal, Assume Consumer Demand for Children's Toys Increases