The Price Elasticity of Demand for Labor Will Be Smaller

question 304

Multiple Choice

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

• A) greater is the price elasticity of demand for the final product.
• B) easier it is to employ substitute inputs in production.
• C) smaller 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:

SD

An abbreviation for Secure Digital, a non-volatile memory card format used in portable devices such as digital cameras and smartphones.

Resolution

The clearness or sharpness of an image, which is controlled by the number of pixels displayed on the screen.

Digital

Pertaining to data represented or stored in a binary format for processing by electronic devices.

Analog

Waves that illustrate the loudness of a sound or the brightness of the colors in an image at a given moment in time.