Consider a Firm's Demand Curve for Labour

question 39

Multiple Choice

Consider a firm's demand curve for labour.If a technological change makes it easier to substitute capital for labour,the demand curve for labour

• A)shifts parallel to the right.
• B)shifts parallel to the left.
• C)becomes more inelastic.
• D)becomes more elastic.
• E)is not affected.

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Definitions:

Merchant

An individual or business that is involved in the wholesale or retail sale of goods.

Time Period

A specific interval of time marked by a start and end point, often used for purposes of study, assessment, or to denote durations.

Offeree

In contract law, the person to whom an offer is made.

Illusory Promise

A promise that does not obligate the promisor to anything.