A Firm's Demand for Labour Increases and Its Demand Curve

question 127

Multiple Choice

A firm's demand for labour increases and its demand curve for labour shifts rightward if

• A) the price of its product falls.
• B) its value of marginal product decreases.
• C) an advance in technology increases the marginal product of labour.
• D) the wage rate falls.

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Definitions:

Average Cost

The aggregate expense of manufacturing, when divided by the total goods manufactured, denotes the unit cost.

Communication

The exchange of information or messages between individuals through various channels and mediums.

Inspirational Workplace

An inspirational workplace is one that motivates individuals to achieve their best and fosters positive attitudes and creativity.

Conflicts

Situations where interests, needs, goals, or values of involved parties interfere with one another.