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lihui lihui
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5 years ago

Question 1.

The demand for labor depends primarily on the additional output produced as a result of hiring an additional worker and

• the additional revenue received from selling the output produced as a result of hiring an additional worker.

• the payment made to the worker for producing the additional output.

• the elasticity of demand for the output produced by the worker.

• the number of workers willing to produce the additional output.

Question 2.

The term "derived demand" refers to

• the demand for financial products called derivatives.

• the demand for a factor of production that is derived from the demand for the good the factor produces.

• a firm's estimated demand curve derived from sales data.

• a demand curve that derives from the availability of resources.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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amw87470amw87470
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5 years ago
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lihui Author
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Brilliant ツ
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Correct Slight Smile TY
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Helped a lot
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