Assume That the Coefficient of Elasticity of Product Demand Is

question 187

Multiple Choice

Assume that the coefficient of elasticity of product demand is 0.5 in industry A and is 3.2 in industry B. Other things equal, labor demand will be

• A)more elastic in industry A than in B.
• B)relatively elastic in both industries A and B.
• C)more elastic in industry B than in A.
• D)relatively inelastic in both industries A and B.

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Definitions:

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