Figure 18-4

-Refer to Figure 18-4.The shift of the labor demand curve from D₁ to D₂ could possibly be explained by

Question

Figure 18-4
 
-Refer to Figure 18-4.The shift of the labor demand curve from D₁ to D₂ could possibly be explained by

Quizplus · Accepted Answer

All of the options can lead to an increase in labor demand: technological progress can make labor more productive, an increase in the price of output can increase demand for labor to produce more, and an increase in other factors can complement labor, increasing its demand.

Figure 18-4 -Refer to Figure 18-4.The Shift of the Labor Demand Curve