What are the influences on the demand for labor?
What will be an ideal response?
Factors that influence the demand for labor are the wage rate, the price of the firm's output, the prices of other factors of production, and technology. A lower wage rate increases the quantity of labor demanded. A rise in the price of a substitute for labor or a fall in the price of a complement for labor increases the demand for labor. A new technology or new capital that increases the marginal product of labor increases the demand for labor.
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Which word comes from the Greek world for "one who manages a household"?
a) market b) consumer c) producer d) economy
Which of the following are included in the M1 definition of money?
A) currency and checkable deposits B) currency and savings deposits C) traveler's checks and money market mutual funds D) currency and small time deposits E) traveler's checks and savings deposits