The demand for labor curve will be less elastic for the, Ask an Expert

Economics

The demand for labor curve will be less elastic for the industry than for the firm because

A. Industry demand for labor is more elastic than the firm's demand for labor

B. If all firms hire more labor, the product price will rise

C. If all firms hire more labor, diminishing returns will not set in as quickly

D. If all firms hire more labor, increased output will lower product price and therefore the marginal revenue product

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92201875

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