Suppose There Are Four Industries

question 82

Multiple Choice

Suppose there are four industries. Labor costs are 80 percent of total costs in industry A, 60 percent in B, 45 percent in C, and 10 percent in D. In which of these industries will a 10 percent increase in the price of labor reduce quantity demanded of labor by the largest proportion?

• A) A
• B) B
• C) C
• D) D

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Definitions:

Self-esteem

A measure of how much value people place on themselves, often seen as a reflection of an individual's overall subjective emotional evaluation of their own worth.

Suicidal

Pertaining to having thoughts of, tendencies towards, or actions aimed at ending one's own life.

Caucasian Men

Men who belong to or are identified with the white racial group, especially of European origin.

Suicidal

Having thoughts of, inclinations towards, or planning for self-inflicted lethal harm.