If there are a number of inexpensive substitutes for labor in the production process, labor:
A) demand will most likely be elastic.
B) demand will most likely be inelastic.
C) supply will most likely be elastic.
D) supply will most likely be inelastic.
Correct Answer:
Verified
Q42: Which of the following statements best illustrates
Q43: If robotics and factory automation become more
Q44: If the demand for legal services decreases,
Q45: Which of the following will not shift
Q46: Which of the following will shift the
Q48: If the productivity of labor diminishes only
Q49: According to the author, the development of
Q50: The information revolution is:
A) reducing overall employment.
B)
Q51: Labor demand is less elastic when:
A) there
Q52: A firm's demand for labor is derived
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents