The Demand for Labor Would Most Likely Become More Elastic

question 119

Multiple Choice

The demand for labor would most likely become more elastic as a result of:

• A) a decrease in the elasticity of the demand for the product that the labor produces.
• B) an increase in the time for employers to make technological changes or purchase new equipment.
• C) a decrease in the proportion of labor costs to total costs.
• D) an increase in the proportion of labor cost to total costs.

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Definitions:

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Percentage

A number expressed as a fraction of 100, used to denote the ratio or proportion of a part relative to the whole.

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