In the Short Run, ________ Increases the Quantity of Labor

question 275

Multiple Choice

In the short run, ________ increases the quantity of labor demanded by the firm.

• A) a decrease in the price of the firm's output
• B) an increase in the prices of other factors of production used by the firm
• C) a technological advance that decreases the marginal product of labor
• D) a decrease in the wage rate

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.

Equilibrium

Equilibrium in economics is the point where supply equals demand for a product, resulting in stable prices and volume of sales.

Efficient Portfolio

Provide the highest expected return for any degree of risk. The efficient portfolio is that which provides the lowest degree of risk for any expected return.

Expected Return

Expected Return is the anticipated profit or loss a portfolio generates over a specific period, based on historical or forecasted performance.