A Firm's Demand for Labor Curve Is Also Called Its

question 244

Multiple Choice

A firm's demand for labor curve is also called its

• A)marginal revenue product of labor curve.
• B)marginal factor cost of labor curve.
• C)marginal valuation curve.
• D)marginal benefit of labor curve.

---

Definitions:

Demand Function

A mathematical relationship expressing the quantity of a good or service demanded as a function of price.

Chainsaws

Chainsaws are mechanical saws with teeth set on a chain that moves around the edge of a blade, typically used for cutting trees.

Price Elasticity

An indicator showing the extent to which the demand for a product varies in response to a price change of that product, represented as a percentage variation.

Airplane Tickets

Documents issued by airlines that allow passengers to board an aircraft and travel from one destination to another.