Topic 3: Labor Demand Flashcards
1
Q
The firm’s production function
A
2
Q
Profit maximisation
A
3
Q
Short run hiring decision (K fixed)
A
4
Q
Short run demand curve for labour
A
5
Q
Maximising profit: stopping rule
A
6
Q
Critiques of marginal productivity theory
A
7
Q
The employment decision in the long run
A
8
Q
Isoquant Curves
A
9
Q
Isocost lines
A
10
Q
Cost minimization
A
11
Q
Long run demand for labour
A
12
Q
Impact of wage reduction
A
13
Q
**Substitution and scale effect
A
14
Q
**Long run demand curve for labour
A
15
Q
The short and long-run demand curves for labour
A
16
Q
**Elasticity of substitution
A
17
Q
Two special cases of isoquants
A
18
Q
Marshall’s rules
A
19
Q
**Factors demands when there are several inputs
A
20
Q
Estimating labour demand and its problem
A
