Demand for labour is likely to be more wage inelastic if:
A) Labour is a large proportion of total costs.
B) Firms are labour intensive.
C) It is difficult to replace labour with machines.
D) Demand for the product is price elastic.
Correct Answer:
Verified
Q1: A fall in the wage rate:
A) Shifts
Q2: The demand for labour is dependent on
Q3: Labour is a _ of production.
A) Force
B)
Q4: An increase in the wage rate will
Q6: An increase in the wage rate may
Q7: An increase in the demand for labour
Q8: An increase in the supply of labour
Q9: An increase in the wage rate may
Q10: Sometimes employees form organizations to represent and
Q11: In the labour market, equilibrium is achieved
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