The elasticity of demand for labour is determined by
A) the proportion of labour for other factors.
B) the price elasticity of demand for the good that labour produces and the substitutability of labour for other factors.
C) time.
D) all the above
Correct Answer:
Verified
Q21: The marginal revenue product of labour is
Q22: Assume the wage rate is £10 per
Q23: The formula for the marginal revenue product
Q24: The profit- maximising level of employment occurs
Q25: The firm's demand for labour curve depends
Q27: The elasticity of demand for labour will
Q28: The amount people must be paid to
Q29: The term 'rent', as it is used
Q30: The following diagram shows a firm operating
Q31: The following diagram shows a firm operating
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