Demand curve for labour is downwards sloping. This has a similar reason as to the demand of goods. If labour prices were low, they would be more likely to hire people at this price. However, if prices were high, they may think otherwise.
For example, putting price on the y axis and quantity demanded on the x axis, lets say the equilibrium price for labour wage was $20 per hour. At a price of $50/hour, employers would be reluctant to hire an employee at this price as it is a lot higher than the equilibrium price, and therefore, the quantity demanded would be low. However, if wages were at $5/hour, labour would be considered cheap, and employers would more likely want to hire someone at this cheaper price and hence, quantity demanded will be higher.
The law of supply predicts the supply curve will be upward sloping.
true because it is still supply and demand downward sloping
Yes,it's always downward sloping
downward sloping
downward sloping
The law of supply predicts the supply curve will be upward sloping.
true because it is still supply and demand downward sloping
Yes,it's always downward sloping
downward sloping
downward sloping
Usually market demand curves are downward sloping.
Usually market demand curves are downward sloping.
The demand curve faced by a pure monopolist is of downward sloping in shape.
Law of demand is behind the downward sloping of demand curve,i.e. inverse relationship between price and quantity demanded.
A perfectly price-inelastic demand curve is vertical (Parallel to Y-axix) because the percentage change in quantity demanded is nil whatever the percentage change happens in price.
Is always negative. (should be in all caps for emphasis)
Marginal Benefit curve is usually downward sloping, while Marginal Cost is usually upward sloping.