Multiple Choice
The relationship between the elasticity of product demand and the elasticity of demand for labor employed in its production is such that, other things being equal,
A) the more elastic the demand for the product, the less elastic the demand for labor.
B) the more elastic the demand for the product, the more elastic the demand for labor.
C) the elasticity of product demand only affects the elasticity of labor demand when the product market is purely competitive.
D) if product demand is perfectly elastic, labor demand will be perfectly inelastic.
Correct Answer:
Verified
Correct Answer:
Verified
Q197: Resource prices are important because they affect
Q207: The U.S. Bureau of Labor Statistics expects
Q208: Suppose the demand for strawberries rises sharply,
Q209: Suppose a firm is hiring resources l
Q210: If MP<sub>x</sub><sub> </sub>> MP<sub>y</sub>, a firm should
Q211: The demand for sewing machine operators is
Q213: An increase in the demand for HDTV
Q214: Harry owns a barbershop and charges $6
Q216: A technological improvement that causes an increase
Q217: Which will not be a determinant of