The Long-Run Response to a Drop in the Wage Exceeds

question 53

Multiple Choice

The long-run response to a drop in the wage exceeds the short-run response for all of the following reasons except:

• A)it is more difficult to substitute capital for labor in the long run than the short run
• B)an increase in labor makes capital more productive,leading to more capital and therefore higher labor productivity
• C)the demand for the firm's output is more elastic in the long run
• D)technology may change in the long run

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Definitions:

Homozygosity

Homozygosity is a genetic condition in which an individual has two identical alleles for a particular gene or genes.

Allele Frequencies

A measure of how common a particular genetic variant (allele) is within a population's gene pool.

Genetic Stasis

A period or state in which the genetic composition of a population remains relatively unchanged over time.

Polymorphism

The presence of two or more distinct forms (variations) of a gene or trait within a population.