Other Things Being Equal, the Elasticity of Demand for Labor

question 21

Multiple Choice

Other things being equal, the elasticity of demand for labor will be greater the

• A) smaller the proportion of total costs accountable for by labor costs.
• B) smaller the elasticity of demand for the product it produces.
• C) larger the number of close substitute resources available.
• D) more rapid the decline in its marginal productivity.

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