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Why is the demand for labor called a derived demand

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Reference no: EM132859877 , Length: Word count: 300

Question 1: Why is the demand for labor called a derived demand?

Question 2: In the labor market, what are the firm's demand curve for labor and the workers' supply curve of labor?

Question 3: How is a firm's wage normally determined in the labor market?

Question 4: How could Amazon decide to raise its minimum wage to $15 per hour, despite the federal minimum wage being fixed at $7.25 per hour?

Question 5: What are positive and negative effects of Amazon raising its minimum wage to $15 per hour on its employees, total revenue, and other companies and their employees?

  • Your initial post should be a minimum of 300 words.

Reference no: EM132859877

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