Which of the following is the reason why the demand for labour is downward sloping?
|
|||
|
|||
|
|||
|
Option a
As per the law of diminishing marginal product, with the additional quantity of labor, the additional output produced starts to decrease, hence the demand for labor is downward sloping
Which of the following is the reason why the demand for labour is downward sloping? a....
Use the law of diminishing utility to explain why a demand curve is typically downward-sloping.
SOVO Help Save & EXIT Which of the following characteristics lead to a downward-sloping demand curve? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. An increase in purchasing power as market price decreases Diminishing marginal utility Increasing opportunity costs Increasing marginal benefit Diminishing preferences for a particular good A decline in the price of a related good How is a...
QUESTION 9 The perfectly competitive firm faces a downward sloping demand curve. constant marginal costs. a horizontal supply function. perfectly elastic demand. QUESTION 10 The short-run industry supply curve slopes up because the law of diminishing marginal product applies in the short run. wages increase as the industry increases output. the firms eventually experience diseconomies of scale. the higher price is needed to get more firms to enter the industry.
The topic of this discussion is on an incredibly important concept in utility maximization: the law of diminishing marginal utility. This term is a reason why the demand curve itself is downward-sloping. Specifically answer this prompt: Can you think of any examples of goods or services where the law of diminishing marginal utility does not apply? If the law of diminishing marginal utility does apply to certain goods or services, how could a business change pricing to take advantage of...
Amonopolist faces a downward sloping demand curve that is equal to which of the following? o The prevailing market price. O The market demand curve. Its marginal cost curve. • Marginal revenue.
A firm has production function Q= L1/2 K1/2 with general w & r d. Is the demand for labour downward sloping? Is the demand for capital downward sloping? Use calculus to answer. d. Find the firm’s total cost function, LTC (Q). Draw LTC (Q) on a diagram. e. How will costs change when the firm produces one more unit of output? Use calculus to answer.
If a profit-maximizing monopolist faces a downward-sloping market demand curve, what do we know?What can the marginal product of labour be defined as?
A firm's demand curve for labor in a perfectly competitive market is the downward-sloping portion of its _____ curve. Select one: a. average total cost b. marginal revenue c. total revenue d. value of the marginal product of labor
Which of the following is true about the demand curve confronting a competitive firm? Downward-sloping, as is market demand Downward-sloping, while market demand is flat Horizontal, as is market demand Horizontal, while market demand is downward-sloping
The demand curve for the product of a monopolistic competitor is a. horizontal b. downward sloping c. unitary elastic d. vertical Which of the following is NOT a characteristic of monopolistic competition? a. barriers to entry into the market b. a significant number of sellers c. product differentiation d. advertising IN MICROECONOMICS