Asked by
birtukan Abebe
on Oct 12, 2024Verified
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.
Verified Answer
AV
Learning Objectives
- Familiarize yourself with the aspects influencing labor demand and the use of other resources.