When the labor demand curve s downward-sloping, an increase in the minimum wage is:________
1 answer:
When the labor demand curve s downward-sloping, an increase in the minimum wage is beneficial.
Why labor demand curve is downward sloping?
- Because of the law of diminishing returns, the demand curve is downward sloping.
- when more workers are hired, the marginal product of labor starts to decline, which causes the marginal revenue product of labor to fall as well.
How does an increase in the minimum wage affect demand?
- The quantity of work required will alter in response to changes in pay or salary.
- Employers will want to hire fewer workers if the pay rate rises.
- There will be a reduction in the amount of labor requested and an upward shift in the demand curve.
Learn more about demand curve
brainly.com/question/13131242
#SPJ4
You might be interested in
Is there more to this question if not I can figure it out
A slip deposit and a credit card deposit
Answer:
They ratify amendments.
Explanation:
Waves hit the coast at an angle and form currents in the surf zone
I am okay. I am not an expert but I can help