Which of the following statements help describe the market for labour? (Hint: as opposed to the market for goods & services] [ Tick all that apply; select your answers carefully] Firms hire labour services to produce output. Firms sell output to consumers. Firms produce output using a variety of inputs or production factors. Firm behaviour is captured in the supply in the market, while individuals behaviour is captured in the demand side of the market. Consumers purchase output produced by firms at a price p. Individuals offer time and skills to rms in return for monetary compensation. Labour units are exchanged at a price which we call "hourly wage"