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Posts: 147
3 months ago
Which of the following statements is TRUE about the market demand curve for labor?

• The market demand curve is the sum of the individual firm's demand curve.

• The market demand curve will be perfectly inelastic since firms need labor.

• The market demand curve depends upon labor productivity, the wage rate and the price of the final product.

• The market demand curve shows the quantities of labor demanded by all firms in the industry at various marginal products.
Source  Download
Economics Today: The Micro View
Edition: 19th
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Posts: 178
3 months ago
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The market demand curve depends upon labor productivity, the wage rate and the price of the final product.
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