What Are Marshall's Four Conditions Related to Wage Elasticity

question 49

Multiple Choice

What are Marshall's four conditions related to wage elasticity?

• A) wages, labour market, substitution effect, and product market
• B) product market, substitution effect, market for substitutes, and labour intensity
• C) labour intensity, market for products, substitution effect, and wages
• D) labour market, work-life balance, product market, and wages

---

Definitions:

Negative Correlation

A relationship between two variables where one variable increases as the other decreases, or vice versa.

Psychology Laboratory

A facility designed for conducting psychological research, experiments, and testing, often equipped with specialized equipment.

Wundt

Wilhelm Wundt, often considered the father of experimental psychology, who established the first psychology laboratory.

Double-Blind Experiment

An experimental design in which neither the participants nor the experimenters know who is receiving a particular treatment, to prevent bias.