We say that the demand for labor is a derived demand because
A) labor is a necessary input in the production of every good or service.
B) we demand the product that labor helps produce rather than labor service per se.
C) the forces of supply and demand do not apply directly to labor markets.
D) labor is hired using the MRP = MRC rule.
Correct Answer:
Verified
Q80: Q81: When economists say that the demand for Q82: Marginal product is Q83: Harry owns a barbershop and charges $6 Q84: The marginal revenue product schedule is Q86: A profit-maximizing firm employs resources to the Q87: The demand for airline pilots results from Q88: Assume labor is the only variable input Q89: The labor demand curve of a purely Q90: An employer hiring in a competitive labor
A)the output of the least
A)the same
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