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Question
Which of the following statements is true about the market demand curve for labor?
A) The market demand curve is the sum of the individual firmʹs demand curve.
B) The market demand curve will be perfectly inelastic since firms need labor.
C) The market demand curve shows the quantities of labor demanded by all firms in the industry at various marginal products.
D) The market demand curve depends upon labor productivity, the wage rate and the price of the final product.
Answer
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