Other Things Being Equal, a Firm's Demand for Labor Is

question 109

Multiple Choice

Other things being equal, a firm's demand for labor is likely to be more elastic than its demand for capital if

• A) labor costs are a smaller proportion of total costs than capital costs.
• B) the firm uses labor-intensive production techniques.
• C) substitutions of one resource for another are difficult.
• D) the demand for its final product is price elastic.

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