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What happens to the MP of labor when the market price of the good produced increases?
When the market price of the good produced increases, the marginal product (MP) of labor typically becomes more valuable, leading firms to hire more workers to maximize profit. This is because the additional revenue generated from hiring each additional worker exceeds the cost of employing them, increasing the demand for labor. Consequently, the marginal product of labor may increase as firms optimize their production processes to take advantage of higher prices, potentially leading to higher wages in the labor market.
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What Best explains the effect of immigration in the labor market?
buy one get one free
What describes the effect of outsourcing on the labor market in the United States?
Competition for jobs increases and wages go down.
How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
Which of following best describes the effect of outsourcing on the labor market in the US?
Competition for jobs increases and wages go down
Which of the following best describes the effort of outsourcing on the labor market in the US?
Competition for jobs increases and wages go down.
What Best explains the effect of immigration in the labor market?
buy one get one free
Why does the type of product influence where it is produced?
The type of product influences where it is produced due to factors like labor costs, skill requirements, access to raw materials, transportation costs, and market proximity. For example, labor-intensive products may be produced in countries with lower labor costs, while perishable goods might be produced closer to their market to reduce transportation time and costs.
Malthus believed that as the labor increases extra food will only be produced by farming less fertile soil?
true!!!!
What describes the effect of outsourcing on the labor market in the United States?
Competition for jobs increases and wages go down.
How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
Which of following best describes the effect of outsourcing on the labor market in the US?
Competition for jobs increases and wages go down
Which of the following best describes the effort of outsourcing on the labor market in the US?
Competition for jobs increases and wages go down.
What is an example of a factor market?
Labor Market
When output increases the unit labor cost falls and the unit material cost falls why?
because the fixed cost is absorbed into the number of units produced.
How did World War 2 help racial minorities in the labor market?
Which labor market?
What are the effects of migration on the labor force?
Immigration increases the supply of labor
What did marx argue that all wealth is produced by?
by labor
