What information can the labor demand curve give you by itself (no other curves)? Select all...

What information can the labor demand curve give you by itself (no other curves)?

Select all applicable information for credit.

Group of answer choices

Wage

The portion of tax that will be paid by employers

Marginal Revenue Product of Labor

Quantity demanded of labor at a given wage

Marginal Value of Labor

Marginal Wage

Number of workers employers will hire at various wages

Marginal Cost of Labor

Solutions

Expert Solution

Labour demand curve is a function of price of the product and the marginal product of labour. It basically indicates the number of labour units employed at different wages. The wage rate is determined by both labour demand and labour supply functions and therefore we cannot determine the wage rate from labour demand function itself. Marginal cost of labour is derived from the supply function of labour. Marginal wage is determined by both the demand and supply functions. Tax portion paid by employers also requires the elasticity of demand and supply or at least the price variable in the supply function.

Select Marginal Revenue Product of Labor , Quantity demanded of labor at a given wage, Marginal Value of Labor, Number of workers employers will hire at various wages

Rahul Sunny answered 2 years ago

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