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45) What are the five most important variables that cause the market demand curve for laborto shift?45)Diff: 2Page Ref: 550/550Topic: The Demand for LaborLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, andfactor supply and labor in factor marketsAACSB: Reflective Thinking13
46) A firmʹs labor demand curve is also its marginal revenue product curve. For both theperfectly competitive firm and the output price maker, the labor demand curve slopesdownwards. However, there is a difference in the reasons why the labor demand curveslopes downwards. What is this difference?46)Diff: 2Page Ref: 547/547Topic: The Demand for LaborLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, andfactor supply and labor in factor marketsAACSB: Analytic Skills14