Multiple Choice
The elasticity of demand for labor in the electric-vehicle battery market will likely rise if
A) the elasticity of demand for electric-vehicle batteries falls.
B) labor's share of total production costs of electric-vehicle batteries is small.
C) labor is the only variable factor of production due to time constraints.
D) robots can easily be substituted in place of labor in electric-vehicle battery production.
Correct Answer:
Verified
Correct Answer:
Verified
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