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marysya [2.9K]
3 years ago
12

We say that the demand for labor is a derived demand because Multiple Choice labor is a necessary input in the production of eve

ry good or service. the forces of supply and demand do not apply directly to labor markets. we demand the product that labor helps produce rather than labor service per se. labor is hired using the MRP = MRC rule.
Business
1 answer:
kirza4 [7]3 years ago
7 0

Answer:

The correct answer is: we demand the product that labor helps produce rather than labor service per se.

Explanation:

The demand for inputs of production such as labor is called derived demand. This is because their demand is derived from the demand for goods that they are used to produce.

These inputs are used in the process of production.  The derived demand affects the price of derived goods.

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Who develops the menu in a restaurant?<br> The ________ develops the menu in a restaurant
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The owner is usually the one who developed the menu.
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3 years ago
A monopolist has the total cost function c(q) = 750 + 5q. The inverse demand function is 140 - 7q, where prices and costs are me
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Answer:

d. the firm will lose $750

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cost: 750 + 5q

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4 0
2 years ago
11. Nadine is retiring at age 62 and expects to live to age 85. On the day she retires, she has $402,000 in her retirement savin
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E. $2,688.77

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<em>She can withdraw 2,688.76 per month</em>

7 0
2 years ago
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