Determining the Demand for Labour: 4 Factors | Firm

The following points highlight the four main factors determining the demand for labour. The factors are: 1. The Quantity used of the Cooperating Inputs 2. The Price of the Product 3. The Law of Diminishing MPL 4. The State of the Art or Technology. Factor # 1. The Quantity used of the Cooperating Inputs: We have seen that the greater [...]