Problem
1. Why is the demand for factor inputs, such as labor, a derived demand?
2. What rule does a firm use when deciding to hire an additional worker?
3. What are the two labor-demand shifters? What are the three labor-supply shifters?
4. If wages are below the equilibrium level, what would cause them to rise?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.