The demand curve for labor slopes downward because:
a. few workers are willing to work at low wages
b. capital has been substituted for labor in most industries.
c. of the diminishing marginal product of labor.
d. of all of the above.
c
Economics
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Explain why choices respond to incentives and think of three incentives to which you have responded today
What will be an ideal response?
Economics
The concept of comparative advantage applies:
a. only to people with at least a high school diploma. b. only to people who are currently employed. c. to situations in which you have information about the salary levels of those with whom you are competing for a job. d. to every case of trade or exchange. e. only to goods that are sold in the domestic market.
Economics