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In: Economics

15. The demand for labor is determined by a. Firms maximizing profits. b. Workers maximizing utility....

15. The demand for labor is determined by a. Firms maximizing profits. b. Workers maximizing utility. c. The government working in concert with workers through programs such as job retraining and unemployment insurance that reduce the conflict between workers and firms. d. All of the above.

Solutions

Expert Solution

Option a

a. Firms maximizing profits

the demand for labor is determined by the firms maximizing profit. the workes utility, government program, and insurance change the supply of workers.

the demand for labor curve is the marginal revenue product curve and that is determined by the price and marginal product of labor

Rahul Sunny answered 2 years ago
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