To say that the demand for labor is a derived demand means that
A) the quantity of labor is derived by the real wage rate
B) the demand for labor depends upon the demand for the product produced by labor
C) the supply of labor rises when the demand for labor falls
D) equilibrium in the resource market ensures there is equilibrium in the product market
E) changes in the demand for labor lead to changes in the demand for the product produced by labor
Correct Answer:
Verified
Q1: In a perfectly competitive labor market,no individual
Q2: Each of the following conditions,except one,must be
Q3: A firm's labor demand curve is derived
Q5: Which of the following is an assumption
Q6: If the demand for automobiles increases,which of
Q7: A market in which resources are traded
Q8: In a perfectly competitive labor market
A)all firms
Q9: In a perfectly competitive labor market,
A)some workers
Q10: In factor markets,firms _ and households _.
A)demand
Q11: In factor markets,
A)individual consumers are the demanders
B)equilibrium
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