Which of the Following Will Not Lead to a Change

question 125

Multiple Choice

Which of the following will not lead to a change in the demand for labor?

• A) A change in demand for the final good.
• B) A change in the supply of labor.
• C) A change in the price of a substitute input.
• D) A change in labor productivity.

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Definitions:

Elastic Supply Schedule

A situation where the quantity supplied of a good changes significantly when its price changes.

Marginal Revenue Product

the additional revenue generated from using one more unit of a factor of production, holding other factors constant.

Marginal Revenue Product

The supplementary earnings derived from the utilization of an additional production factor unit.

Marginal Revenue Product

The additional income generated from selling one more unit of a good or service, calculated as the extra revenue produced by the marginal unit of output.