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Tyris Oliver
on Nov 16, 2024

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An increase in the output price will increase the firm's demand for labor, all else equal.

Output Price

The price at which a product or service is sold in the market.

Demand for Labor

The quantity of workers that employers are willing and able to hire at different wage levels in a given time period, reflecting the need for labor in producing goods and services.

  • Understand the relationship between the cost of products and the need for labor.
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Mitchell HoflerNov 22, 2024
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