1. What constitutes the labor demand curve?
2. What shifts the labor demand curve
3. What does the supply of labor look like for one competitive firm?
4. How does a firm know how much labor to hire?
5. What does the supply of labor look like for a) an individual and b) for an entire labor market? Why?
6. How do the income and substitution effects affect how much labor individuals are willing to supply as wages change? (this helps answer #5a - individual labor supply)
7. How has monopsony power affected wages in the US?