--%>

Determine market supply of labor

The market supply of labor is the sum of the: (1) quantities of labor supplied by households at each wage. (2) wages paid to households for each quantity supplied. (3) quantities demanded by firms at each wage. (4) marginal products of labor at each level of output.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Managerial Economics

  • Q : Profit Maximization in Labor Market and

    As a firm is a pure competitor in both the labor market and during the sale of its product, this will hire labor where: (w) profit is maximized. (x) marginal revenue product = marginal resource cost. (y) wage = value of the marginal product. (z) All o

  • Q : Elasticity of Demand for Labor in Firm

    Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.

  • Q : Introduction of the term Marginal

    Provide a brief introduction of the term Marginal Costing? And also write down the essential suppositions made by Marginal Costing?

  • Q : Huge parts of the enormous incomes

    Huge parts of the enormous incomes earned through some gifted athletes and performers are pure economic: (w) wages. (x) profits. (y) interest. (z) rents. Hello guys I want your advice. Please recom

  • Q : Determine marginal resource cost of

    If hiring hundred extra workers increases the firms total cost through $10,000, and each extra worker increases output from 50 units, in that case on the average: (w) profit will fall by $10,000. (x) the value of the marginal product of labor is $10,0

  • Q : Substantial general training to certain

    When a firm gives substantial general training to specific workers: (i) it is probable to pay them a premium wage to cut labor turnover. (ii) the workers are likely to receive less pay than their VMPs after such training. (iii) the workers are most pr

  • Q : Meaning of managerial economics What is

    What is the meaning of managerial economics?

  • Q : Illustrates the term Law of Demand

    Illustrates the term Law of Demand? Answer: The law of Demand is termed as the “first law in market”. It shows the relation in between quantity and price

  • Q : Explain the infinitely elastic demand

    Explain the infinitely elastic demand.

  • Q : What are the responsibilities of

    What are the responsibilities of managerial economists?