Question
Suppose we use demand and supply in the labor market, to analyze the hiring and employment of workers by businesses.The price is the wage and
Suppose we use demand and supply in the labor market, to analyze the hiring and employment of workers by businesses.The price is the wage and the quantity is the number of people working.In the labor market,
a.the demand curve shows the consumer demand for products that workers produce, and the supply curve shows business supply of products that workers produce.
b.the demand curve shows the business demand for products that workers produce, and the supply curve shows consumer supply of products that workers produce.
c.the demand curve shows the demand for jobs by workers, and the supply curve shows the supply of jobs by businesses.
d.the demand curve shows the demand for labor by businesses, and the supply curve shows the supply of labor by people.
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