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Title: What can cause the demand curve for labor to shift? Explain. Post by: k9ikiki on Aug 22, 2018 What can cause the demand curve for labor to shift? Explain.
Title: What can cause the demand curve for labor to shift? Explain. Post by: hiitssky on Aug 22, 2018 The demand curve for labor is the marginal revenue product curve, which is marginal physical product multiplied by marginal revenue. For a perfectly competitive firm, marginal revenue equals price. Whenever the product price changes, the demand curve for labor shifts. Whenever marginal physical product changes due to changes in productivity, the demand curve for labor shifts. The changes in the prices of related factors (substitutes and complements) will also shift demand. The demand for labor is a derived demand, so an increase in the demand for the product produced causes the demand for labor and other variables inputs to change.
Title: What can cause the demand curve for labor to shift? Explain. Post by: k9ikiki on Aug 22, 2018 Helps a lot... Now I'm ready for my quiz
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