If the Firms in Perfectly Competitive Industries Each Have a Production

question 5

Multiple Choice

If the firms in perfectly competitive industries each have a production function given by 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.
• C)-1.
• D)-2.

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Definitions:

Voluntary Behaviors

Actions undertaken by choice and without external coercion, reflecting autonomy and personal preference.

Antecedents

Factors or events that exist or occur before a specific behavior, showing a causal relationship.

Classical Conditioning

A method of learning that involves forming connections between a stimulus from the environment and one that occurs naturally.

Desired Employee Behaviors

The specific actions or conduct that an organization wishes its employees to exhibit in the workplace.