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The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
Why is the demand curve for labor downward sloping?
The demand curve for labor is downward sloping because as the wage rate decreases, employers are willing to hire more workers to save on costs and increase production.
What will cause the capital stock when it increases?
Increases in the stock of capital will cause which of the following?The demand of labor increases.The demand of labor decreases.Selected answer No change in the demand of labor.First increase then decrease the demand of labor
Why is labor an active factor of production?
it can be increased or decreased based upon demand
What factors determine the demand for labor?
causes a movement along the MRP curve: -wage rate causes a shift of the MRP curve: -price of capital -changes in productivity -changes in the price of the firm's product -demand for the product
The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
Why is the demand curve for labor downward sloping?
The demand curve for labor is downward sloping because as the wage rate decreases, employers are willing to hire more workers to save on costs and increase production.
What will cause the capital stock when it increases?
Increases in the stock of capital will cause which of the following?The demand of labor increases.The demand of labor decreases.Selected answer No change in the demand of labor.First increase then decrease the demand of labor
Why is labor an active factor of production?
it can be increased or decreased based upon demand
What factors determine the demand for labor?
causes a movement along the MRP curve: -wage rate causes a shift of the MRP curve: -price of capital -changes in productivity -changes in the price of the firm's product -demand for the product
The labor demand curve is negatively sloped because?
this site has no sense I dont know why you call yourself answer.com
What determines the supply and demand of the factors of production?
The demand for labor is a derived demand in that it depends on a company's decision to supply output in another market. This expansion in a market that has customers is the main factor in how much the demand for labor will increase.
How does demand of labor affect the level of production?
it affects because labor is the main factor of production so that is to say no labor no production at all
What are some affects to the market supply curve?
cost of labor a change in the demand for the product the number of sellers offering the product
Why is labor considered an active factor of production?
it can be increased or decreased based upon demand
Is labor factor of production immobile?
Labor is highly mobile. People will move where jobs are. Such as in the Industrial Revolution, factories had a demand for labor which caused a rural to urban migration.
What is the difference between individual supply of labour curve and market supply of labour curve?
The individual supply of labor curve represents the relationship between the wage rate and the quantity of labor an individual is willing to supply, reflecting personal preferences and constraints. In contrast, the market supply of labor curve aggregates the individual supply curves of all workers in the market, illustrating the total quantity of labor supplied at various wage rates. While the individual curve is based on personal factors like skill level and circumstances, the market curve reflects broader trends and influences, including overall demand for labor and economic conditions.
