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Author Question: A firm's demand for labor is known as a derived demand because a. the firm gains utility from ... (Read 27 times)

sam.t96

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on: Jul 1, 2018
A firm's demand for labor is known as a derived demand because
 a. the firm gains utility from hiring more labor.
  b. the amount of labor hired depends upon how much output the firm can sell.
  c. the wage rate paid to workers is derived from the market for labor.
  d. it is derived from the demand for capital.

Question 2

A profit-maximizing firm should spend an additional dollar on advertising so long as this expenditure results in more than one dollar of
 a. additional sales.
  b. reduced costs.
  c. increased profits.
  d. demand.


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connor417

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


sam.t96

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

brbarasa

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Reply 3 on: Yesterday
Excellent

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