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Assume the Demand for High Tech Goods Is Perfectly Inelastic

question 14

Multiple Choice

Assume the demand for high tech goods is perfectly inelastic.If workers producing high tech goods become more productive,then these workers employment will ________ and their wages will ________.


Definitions:

Acid Derivative

A compound obtained by replacing one or more of the hydroxyl groups of an acid with an organic group.

Anhydride

A compound formed from the removal of water molecules between two carboxylic acid molecules.

Organic Product

A compound or material derived from living organisms or produced by organic chemical reactions.

Reaction

A transformation process where reactants are converted into different substances known as products.

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