The idea that the demand for labor is a derived demand means that
A) most households derive their income from their labor.
B) the demand consumers have for goods and services depends on the income they earn.
C) the demand for labor depends on the demand for the product the labor produces.
D) firms' profits are derived from their employees' labor.
Correct Answer:
Verified
Q60: (Figure: Labor Supply) Based on the figure,
Q61: Due to an increase in the market
Q62: Which situation would be classified as leisure
Q63: The demand for labor that arises from
Q64: Derived demand suggests that
A) labor demand is
Q66: The marginal physical product of labor is
A)
Q67: XYZ Company is currently experiencing a backlog
Q68: (Table) The amount of labor and
Q69: (Table) The amount of labor and
Q70: (Table) Based on the table, what
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents