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birtukan Abebe
on Oct 12, 2024

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All of the following will decrease the demand for labor by firms in an industry except

A) a decrease in the prices of inputs that complement labor.
B) a decrease in the demand for the product produced by the industry.
C) a decrease in the price of the product produced by the industry.
D) a decrease in the prices of inputs that substitute for labor.

Demand For Labor

The need for employees by employers to carry out work, which varies with wage levels and economic conditions.

Inputs That Complement

Resources or goods that are used together in production to increase efficiency or output.

Inputs That Substitute

Resources or factors of production that can be used in place of one another in the manufacturing process.

  • Familiarize yourself with the aspects influencing labor demand and the use of other resources.
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Angie ValdiviaOct 14, 2024
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