Figure 18-10 -Refer to Figure 18-10. Which of the following would shift of the labor demand curve from D₁ to D₂? A)technological progress B)an increase in the price of firms' output C)an increase in the supply of a relevant factor of production other than labor D)All of the above are correct.

Question

Quizplus · Accepted Answer

All of the options can lead to an increase in labor demand: technological progress can make labor more productive, an increase in output price can make labor more valuable, and an increase in other factors can complement labor, all shifting the demand curve right.

Figure 18-10 -Refer to Figure 18-10. Which of the Following Would Shift