-The above figure shows the demand for labor curve for workers at a Pizza Hut in Canada.If the wage rate is $6 per hour,then the
i.quantity of workers Pizza Hut demands is 10 workers.
ii.Pizza Hut would have been willing to hire the 6th worker even if they had to pay $7 per hour rather than $6 per hour.
iii.value of the marginal product of the 10th worker is $6 per hour.
A) i only
B) ii only
C) iii only
D) i and iii
E) i, ii, and iii

Question

-The above figure shows the demand for labor curve for workers at a Pizza Hut in Canada.If the wage rate is $6 per hour,then the
i.quantity of workers Pizza Hut demands is 10 workers.
ii.Pizza Hut would have been willing to hire the 6th worker even if they had to pay $7 per hour rather than $6 per hour.
iii.value of the marginal product of the 10th worker is $6 per hour.
A) i only 
B) ii only 
C) iii only 
D) i and iii 
E) i, ii, and iii

Quizplus · Accepted Answer

The statements accurately describe the implications of the demand for labor curve, where the quantity of labor demanded at a given wage rate is determined by the intersection of the wage rate and the demand curve. The willingness to hire the 6th worker at a higher wage and the value of the marginal product of the 10th worker being equal to the wage rate are consistent with the theory of labor demand.

-The Above Figure Shows the Demand for Labor Curve for Workers