The Price Elasticity of Demand for Labor Will Be Smaller

question 154

Multiple Choice

The price elasticity of demand for labor will be smaller, the

• A) smaller is the price elasticity of demand for the final product.
• B) easier it is to employ substitute inputs in production.
• C) larger is the proportion of wage costs in the total cost of production.
• D) longer is the time period under examination.

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Definitions:

Martin Seligman

Renowned psychologist known for his work on the theory of learned helplessness and his contributions to the field of positive psychology.

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