Which of the following statements is true?
a) The market demand for labor is the horizo...
Business, 03.04.2020 16:09 HeartfeltDream12
Which of the following statements is true?
a) The market demand for labor is the horizontal "addition" of the firms' demand curves for labor.
b) The elasticity of demand for labor is the percentage change in quantity demanded of labor divided by the percentage change in the wage rate.
c) The factor demand curve will shift to the right if the price rises for the good the factor goes to produce.
d) The factor supply curve in an industry will shift to the left as wage rates in that industry rise.
Answers: 3
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