The Demand for Labor
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is derived demand for labor?

  • The demand for labor that is derived from the price of the product the workers are helping produce
  • The demand for labor that is derived from the demand for the product or service that the labor is helping produce (correct)
  • The demand for labor that is derived from how productive the workers are
  • The demand for labor that is derived from the demand for hamburger workers

    • What does a production function show?

  • The relationship between inputs and outputs (correct)
  • The relationship between the price of the product and the demand for workers
  • The relationship between labor and capital
  • The relationship between workers and productivity

    • In the short run, how many inputs are fixed?

  • No inputs
  • At least one input (correct)
  • Only labor
  • Both inputs

    • What does the demand for workers depend on?

    <p>How productive the workers are and the price of the product they are helping produce</p> Signup and view all the answers

    What is the total product for a firm in the short run?

    <p>Not mentioned in the text</p> Signup and view all the answers

    More Like This

    The Demand Quiz
    10 questions

    The Demand Quiz

    FavorableSquirrel avatar
    FavorableSquirrel
    The Demand for Sea-Transport 1-The World Economy
    10 questions

    The Demand for Sea-Transport 1-The World Economy

    SimplifiedDerivative avatar
    SimplifiedDerivative
    The Demand for Money
    18 questions

    The Demand for Money

    TimeHonoredBromeliad avatar
    TimeHonoredBromeliad
    The Demand for Audit and Other Assurance Services Chapter 1 Quiz
    29 questions

    The Demand for Audit and Other Assurance Services Chapter 1 Quiz

    ThinnerDobro avatar
    ThinnerDobro
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser