A movement along the labor demand curve is cause solely by a change in _____________.
A shift in the labor demand curve is caused by a change in ______________________.
determinant of labor demand
The determinants for labor demand are ________________________________.
price of final product that labor is producing, technology, labor productivity, price of other resources (sub and comp)
The price of final product that labor demand is producing _____________ demand.
If product demand increases, then labor demand __________ according to the price of final product that labor is producing
______________ is defined as the method of combining _________ and __________ in the production process.
technology, labor, capital
A technological improvement will cause an _______________ in __________.
increase, labor demand
An increase in labor productivity will cause in increase in ______________.
The price of other resources, substitutes, assume __________ and __________ are substitutes.
An increase in price of capital will affect labor demand by the _________________________________.
substitution and output effect.
In a substitution effect a firm will emply more of a resource whose ____________ has fallen and use less of the resource who ______________ has risen.
relative price (2)
The substitution effect predicts a decrease in __________ because in increase in price of captital decreases the _______________ relative to the price of ___________.
labor demand, price of labor, captial
According to the output effect, a change in a resource price will alter both ______________ and the _____________-of output.
product costs, profit maximizing output level
The output effect predicts a decrease in ____________ because of an ____________ in the price of capital increases the products costs and decreases the _________________________.
labor demand, increase, profit maximizing output level
An increase in the price of captial will affect labor demand if both resources are used jointly in the production process, the is no substitution effect, only an ____________.
If resources are compliments, an ____________ in price of labor will ______________ labor demand.