The Marshallian rules of derived demand
A) Assume that the elasticity of the supply of factors other than labour is fixed
B) Assume that the elasticity of substitution is constant
C) Take the elasticity of demand for the final product as given
D) Help to explain the relative bargaining power of employers and trade unions.
Correct Answer:
Verified
Q1: The proportionality rule states that
A) In equilibrium
Q2: The substitution effect
A) Is represented by the
Q3: Manning
A) In a steady state total separations
Q5: Employers may prefer a standard workweek plus
Q6: Capital utilisation will increase if
A) The rate
Q7: Walter Oi regarded labour as a quasi
Q8: Labour hoarding
A) Implies a sub-optimal use of
Q9: The reservation wage is
A) That wage which
Q10: The matching function
A) Relates the number of
Q11: The optimal stopping rule in job search
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