Which of the following statements is false?
A) The higher the labor cost-total cost ratio, the higher the elasticity of demand for labor.
B) The more substitutes for labor, the higher the elasticity of demand for labor.
C) The higher the elasticity of demand for the product, the higher the elasticity of demand for the labor that produces the product.
D) A change in the MFC of a factor leads to a change in the MRP of a factor.
Correct Answer:
Verified
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