The Market Demand Curve for Labor Is

question 29

Multiple Choice

The market demand curve for labor is

• A)the horizontal summation of the firms' demand curves for labor, derived exactly the same way the product market demand curve is derived from the consumers' demand curves.
• B)the vertical summation of the firms' demand curves for labor.
• C)any one firm's demand curve labor multiplied horizontally by the number of firms in the labor market.
• D)none of the above

---

Definitions:

Enforced Auction

A legal process where items are sold to satisfy debts owned by their owner.

Firm Offer

In contract law, an offer that is expressly made irrevocable for a specified period of time by the offeror.

Merchant

An individual or company involved in wholesale or retail trade, especially one dealing with goods, services, or commodities for profit.

Consideration

Consideration in legal terms refers to the value, which could be a benefit or a sacrifice, that parties exchange in a contractual agreement, essential for the contract's validity.