Labour Economics : Multiple choice questions by ClassOf1

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									              Sub: Economics                                                                 Topic: Labour Economics

              Question:
              Multiple choice questions related with labor demand curve perfectly
              competitive output and labor market.

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              1. A decrease in the demand for the final product will cause the firms short run labor demand
              curve to:

              a. decrease

              b. remain the same

              c. change in an unpredictable manner

              d. increase

              Ans: A



              2. The short run labor demand curve is downward sloping for a firm operating in a perfectly
              competitive output and labor market as a result of:

              a. the law a diminishing returns.

              b. the decrease in marginal revenue that occurs when output rises

              c. both of the above are correc
								
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