Labour demand and marginal productivity theory
Cards (24)
- What type of market is the labour market classified as?
- Who determines the supply of labour?
- What is derived demand in the context of labour?
- How does the demand for car manufacturers relate to car demand?
- What factors affect the demand for labour?
- How does the wage rate affect the demand for labour?
- What happens when wages increase for firms?
- How does the demand for products influence labour demand?
- What increases the productivity of labour?
- What effect do substitutes for labour have on demand?
- How does a firm's profitability affect labour demand?
- What determines the number of buyers of labour?
- How does the number of employers affect wages?
- What is the marginal productivity theory of labour demand?
- How is marginal revenue product (MRP) calculated?
- What does marginal product of labour represent?
- What does marginal revenue of labour indicate?
- When does equilibrium occur in labour demand?
- What does the demand curve show in relation to labour?
- How does the elasticity of demand for labour relate to wage rate changes?
- What affects the elasticity of demand for labour?
- How does a high proportion of labour costs affect elasticity?
- What happens when substitutes for labour are easy to find?
- How does the price elasticity of demand (PED) for a product affect labour demand?