The Demand for Labor Is Likely to Decrease If

question 91

Multiple Choice

The demand for labor is likely to decrease if

• A)there is a rise in the demand for the good it produces
• B)the price of a complementary input falls
• C)the price of a substitute input rises
• D)there is a decline in the demand for the good it produces
• E)there is an increase in the number of firms in the market

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Definitions:

Fixed Cost

Expenses that remain unchanged regardless of the volume of goods or services produced within a certain range.

Trucking Department

A specialized unit or department within a company responsible for the management and operation of the fleet of trucks for transportation of goods.

Order Fulfillment Department

A division within a company responsible for processing customer orders and ensuring products are delivered to customers efficiently and accurately.

Variable Costs

Costs that vary in direct proportion to the level of production or business activity.