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S Ramesh Naidu

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· 1 Months ago

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Question:
Labour demand refers to –  
Options:
A) number of hours of hiring that an employer is willing  
B) increase in the demand of labour in the market 
C) decrease in the labour during peak period
D) None of these 
Solution:
Ans: (a) In economics, labor demand refers to the number of hours of hiring that an employer is willing to do based on the various exogenous (externally determined) variables it is faced with, such as the wage rate, the unit cost of capital, the market-determined selling price of its output, etc.

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