A firm's demand for labor is known as a "derived demand" because
a. the firm gains utility from hiring more labor.
b. the amount of labor hired depends upon how much output the firm can sell.
c. the wage rate paid to workers is derived from the market for labor.
d. it is derived from the demand for capital.
b
Economics
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Assume that steak and potatoes are complements. When the price of steak goes up, the demand curve for potatoes:
A) shifts to the left. B) shifts to the right. C) remains constant. D) shifts to the right initially and then returns to its original position.
Economics
Explain what the IP curve is and why it is upward sloping
What will be an ideal response?
Economics