Multiple Choice
Which of the following statements is true of the industry demand for labor?
A) The lesser the elasticity of the final product,the higher the elasticity of the industry labor demand curve.
B) The longer the time period allowed for adjustment,the lesser the elasticity of the industry labor demand curve.
C) The lower the substitutability of inputs,the higher the elasticity of the industry labor demand curve.
D) The lower the supply elasticity of other inputs,the lesser the elasticity of the industry labor demand curve.
Correct Answer:

Verified
Correct Answer:
Verified
Q82: Suppose the marginal value product curve of
Q83: Assume that labor and capital are the
Q84: Define monopsony in an input market and
Q85: The shape of a competitive firm's input
Q86: When the input supply curve confronting an
Q88: Use the following table to answer the
Q89: Which of the following is true for
Q90: Use the following table to answer the
Q91: Assume that a competitive firm sells its
Q92: Two inputs,labor and capital,are considered substitutes if:<br>A)a