Because of ________ Marginal Product of Labor,the Labor Demand Curve

question 59

Multiple Choice

Because of ________ marginal product of labor,the labor demand curve slopes ________.

• A)rising,upward
• B)rising,downward
• C)diminishing,downward
• D)diminishing,upward

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Definitions:

Incremental Overhead

The additional overhead costs incurred as a result of a specific business activity or decision.

Salary Expense

The total amount paid to employees for services rendered during a specific period, usually shown in the income statement.

Opportunity Cost

The value of the best alternative forgone when a choice is made between different options.

Tax Rate

The percentage at which an individual or corporation is taxed by the government on income or profits.