Question: The demand for labor is described as a derived demand because Group of answer choices it is derived from the demand for products that use

The demand for labor is described as a derived demand because Group of answer choices it is derived from the demand for products that use labor in the production process. it is derived by producers seeking to make profits by starting new businesses. it is derived from government institutions which rely on labor markets for the purpose of raising tax revenue. it is derived by workers seeking to earn income to fund the consumption of goods and services.What is the difference between a firm's marginal revenue and its marginal revenue product? Group of answer choices Marginal revenue is the increase in revenue when a firm raises its output price while marginal revenue product is the increase in marginal product when a firm hires an additional worker. There is no difference between the two terms. Marginal revenue is the change in sales revenue from selling one more unit of output while marginal revenue product is the profit earned from hiring one more worker. Marginal revenue is the change in sales revenue from selling one more unit of output while marginal revenue product is the change in total revenue from hiring one more worker

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