Question

Which of the following correctly explains the effect of a variable on the labor demand curve?

 

(i) If the wage increases, then the labor demand curve will shift to the right.

(ii) If the quantities of other inputs increase, then the labor demand curve will shift to the left.

(iii) If the price of the product increases, then we will move down the labor demand curve.

(iv) If the number of firms in the market increases, then we will move up the labor demand curve.

(v) If human capital increases, then the labor demand curve will shift to the right.