If Labor Is a Small Percentage of the Total Costs

question 39

Multiple Choice

If labor is a small percentage of the total costs of an industry,this will tend to make the own-wage elasticity of labor demand

• A) high.
• B) low.
• C) positive.
• D) zero.

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Definitions:

Simple Reflex Action

An automatic, involuntary physiological response to a specific stimulus that does not involve conscious thought.

Body Contact

Physical interaction between individuals, which can range from casual touches to more intimate or aggressive forms of contact.

Harmful

Causing or capable of causing damage or injury.

Integumentary System

The organ system comprising the skin and its appendages, acting as a barrier to protect the body from the external environment.