The demand for labor is likely to decrease if
a. there is a rise in the demand for the good it produces
b. the price of a complementary input falls
c. the price of a substitute input rises
d. there is a decline in the demand for the good it produces
e. there is an increase in the number of firms in the market
D
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Which of the following is correct? When the price of normal good Z falls:
A) both income and substitution effects cause the consumer to buy more. B) both income and substitution effects cause the consumer to buy less. C) the income effect causes the consumer to buy less, but the substitution effect causes her to buy more. D) the income effect causes the consumer to buy more, but the substitution effect causes her to buy less.
The market labor supply curve is usually __________ over the relevant range of market wage rates
a. positively sloped b. negatively sloped c. backward bending d. vertical e. horizontal