Labour market GapFill

The demand for labour is said to be  constant critical derived downward sloping; this means that labour is not   supplied demanded rewarded commissioned for its own sake but for the goods and services that labour  usesneedsdemandsproduces . Therefore, if the demand for the product that labour produces is  perfectly elasticelastic inelasticunitary, then the demand curve for labour will be elastic. The demand for labour is  linearlyupwardpositivelydownward sloping, showing that more labour is demanded at a lower   profitwagecostboundary than at a higher wage. The individual supply curve for labour is   upwardlineardownwardnegative or has a backward bending slope. In a competitive labour market, the   costprofitcommissionwage rate is determined by the interaction of demand and supply.   DeterminantsLawRiseElasticity of demand is quite important in influencing the demand curve for labour which will then influence workers'  demandbargainingwage ratesupply power.