Respuesta :
The individual firm that hires labor under competitive conditions faces a labor supply curve that slopes down to right .
How does a company hire labor under competitive conditions ?
The labor market determines the supply and demand for labor. Both employees and businesses are participants in the labor market. For pay, workers provide labor to businesses. In return for pay, employers demand labor from their employees.
labor demand for the company. The firm's demand for labor is derived; it results from the firm's output demand. Increased demand for the company's output will result in higher labor costs and an increase in employee hiring. If there is a decline in demand for the business's production, the firm will employ fewer people and demand less labor.
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