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Other Fields Homework Help Economics Topic started by: linhhh on Feb 28, 2019



Title: A firm's demand curve for labor slopes downwards because
Post by: linhhh on Feb 28, 2019

Question 1.

As more output is produced, the marginal product of labor declines

• because of the law of diminishing returns.

• if firms reduce the wage paid to labor.

• if the firm's output supply curve is inelastic.

• because the firm's marginal revenue declines.

Question 2.

A firm's demand curve for labor slopes downwards because

• of the law of diminishing marginal returns.

• firms supply less labor as the wage rate rises.

• workers supply less labor services as the wage rate falls.

• of rising marginal product.


Title: A firm's demand curve for labor slopes downwards because
Post by: n00835996 on Feb 28, 2019
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