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If the Firms in Perfectly Competitive Industries Each Have a Production

Question 8

Multiple Choice

If the firms in perfectly competitive industries each have a production function given by q=k1/4l3/4q = k ^ { 1 / 4 } l ^ { 3 / 4 } and the price elasticity of demand for the industry's output is -1,the wage elasticity of demand for labor by the industry will be


A) 0.
B) - \infty
C) -1.
D) -2.

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