Question: Explain the Factors Affecting Demand for Labor Explain the relationship of Demand for Labor and Demand for a specific good in every item. POV: employer

Explain the Factors Affecting Demand for Labor

Explain the relationship of Demand for Labor and Demand for a specific good in every item. POV: employer

  1. Estimates of consumer demand
  2. Labor costs
  3. Elasticity- other things equal, the greater the price elasticity of product demand, the greater the elasticity of labor demand
  4. Productivity of workers
  5. Number of employers

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