A Firm's Demand for Labor Is Downward Sloping Because of

question 59

Multiple Choice

A firm's demand for labor is downward sloping because of

• A) diminishing marginal productivity of labor.
• B) diminishing marginal utility.
• C) price pressure.
• D) workers' increased willingness to work for higher wages.

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Definitions:

Similarity Error

An error in judgment where individuals assess others based on their own characteristics or beliefs, rather than objective criteria.

Person Perception

Involves the process by which individuals form impressions and make judgments about other people.

First-impression Error

The tendency to form lasting opinions about an individual or situation based on the initial impressions, which can often be inaccurate.

Negative Information

Data or facts that portray an adverse or unfavorable condition or aspect.