Asked by
Tryphena Daniel
on Nov 26, 2024
Verified
Which of the following increases in labor demand is due to a change in the price of a related resource?
A) Software sales rise, thus increasing the demand for software developers.
B) Snowboarding increases in popularity, thus increasing the demand for the workers who make snowboards.
C) A decrease in the price of wood decreases the cost of furniture, thus increasing the demand for furniture workers.
D) A technological change increases output per worker in the computer industry, thus increasing the demand for computer workers.
Related Resource
Assets or inputs that are connected or utilized together in the production process of goods or services.
Labor Demand
The total amount of workers that employers in the economy want to hire at any given wage rate.
Price Change
A shift in the cost at which goods or services are sold, either increasing or decreasing in amount.
- Understand the factors that cause shifts in labor demand.
Verified Answer
YV
Learning Objectives
- Understand the factors that cause shifts in labor demand.