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Social Science
Economics
Labor Economics Ch. 3 Study Guide
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The microeconomic analysis of the demand for labor asks what 3 questions
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a) who makes the decisions?
b) what are the decision maker's goals?
c) what constraints impede the decision maker from attaining them?
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Terms in this set (144)
The microeconomic analysis of the demand for labor asks what 3 questions
a) who makes the decisions?
b) what are the decision maker's goals?
c) what constraints impede the decision maker from attaining them?
The microeconomic analysis of the demand for labor provides the what answer to question a) who makes the decisions?
a) the decision maker is a firm
The microeconomic analysis of the demand for labor provides what answer to question b) what are the decision maker's goals?
b) the firm's goal is to maximize its profits
The microeconomic analysis of the demand for labor provides what answer to question c) what constraints impede the decision maker from attaining them?
c) there are 4 constraints that restrict the firm's actions: technological, informational, policy, and market
Labor is demanded by who
firms
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