The labor requirements function is derived from:
A)the demand curve.
B)the supply curve.
C)the production function.
D)the capital requirement function.

Question

Quizplus · Accepted Answer

The labor requirements function is derived from the production function, which shows the relationship between the inputs (including labor) and the outputs of a firm. The production function helps determine how much labor is needed to produce a certain level of output. The labor requirements function is derived from the production function, which shows the relationship between inputs (such as labor and capital) and output. The production function specifies the amount of labor required to produce a given level of output, which forms the basis for determining the labor requirements function. The demand and supply curves and the capital requirement function are not directly related to the labor requirements function.

The Labor Requirements Function Is Derived From