If the Firms in Perfectly Competitive Industries Each Have a Production

question 8

Multiple Choice

If the firms in perfectly competitive industries each have a production function given by $q = k ^ { 1 / 4 } l ^ { 3 / 4 }$ and the price elasticity of demand for the industry's output is -1,the wage elasticity of demand for labor by the industry will be

• A)0.
• B) \(- \infty\)
• C)-1.
• D)-2.

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