The Demand for Labor Curve of Nurses Shifts Rightward If

question 31

Essay

The demand for labor curve of nurses shifts rightward if the
A) value of marginal product of nurses increases.
B) wage rate paid to nurses rises.
C) supply of labor curve for nurses shifts leftward.
D) wage rate paid to nurses falls.
E) supply of labor curve for nurses shifts rightward.

• A) value of marginal product of nurses increases.
• B) wage rate paid to nurses rises.
• C) supply of labor curve for nurses shifts leftward.
• D) wage rate paid to nurses falls.
• E) supply of labor curve for nurses shifts rightward.

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Definitions:

Economic Rent

Economic rent is the excess payment made to or received by a factor of production over and above what would have been needed to bring that factor into production.

Competitive Factor Market

A market for inputs where firms purchase resources necessary for production, characterized by many sellers and buyers.

Inframarginal Workers

Employees whose productivity and wage are above the minimum required for employment, but are not the highest performers.

Marginal Expenditure Curve

A graph that shows the additional cost of purchasing one more unit of a good or service.