Is the price elasticity of labor supply more or less elastic in higher paying jobs?
Is the price elasticity of labor supply more or less elastic in higher paying jobs?
Homework Answers
Price elasticity of labor supply, will be less elastic in higher paying jobs, because higher paying jobs require superior skills and it is only owned by few people. So, labor supply will not increase as much as the wage increases for these jobs. Hence, supply of labor for these jobs, will remain relatively inelastic in nature.
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Is the price elasticity of labor supply more or less elastic in
higher paying jobs?
When mobility costs are high a) the supply of labor is more elastic. b) the supply...
When mobility costs are high a) the supply of labor is more elastic. b) the supply of labor is less elastic. c) the supply of labor is perfectly elastic. d) the elasticity of supply of labor can no longer be determined. де 2: Question 25 (2 points) In a monopsonistic labor market where everyone is covered by a minimum wage, it is possible for the minimum wage (set above the market clearing or equilibrium wage but below the marginal expense...
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The elasticity of demand for labor will be less elastic when O A. the easier it...
The elasticity of demand for labor will be less elastic when O A. the easier it is to use substitute inputs in production. B. the less elastic the demand for the final product. O C. the greater the amount of total costs accounted for by labor O D. the longer the time period available for adjustment.
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11.) Typically the elasticity of supply is more elastic in the ______________ (short-run, long-run).
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QUESTION 5 If demand is more elastic and supply is less elastic, then the burden of...
QUESTION 5 If demand is more elastic and supply is less elastic, then the burden of a tax would fall heavily on consumers. o True False
5. If demand is elastic, will shifts in supply have a larger effect on equilibrium quantity...
5. If demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or 6. If supply is inelastic, will shifts in demand have a larger effect on equilibrium price or on Under which circumstances does the tax burden fall entirely on consumers? İpts on price? Ipts quantity? 1pts 8. What is the relationship between price elasticity and position on the demand curve? For example, as you move up the demand curve to higher prices and lower...
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Suppose the price elasticity of supply for a good is 2.0. This means... The supply of this good is elastic. Inputs used to produce this good are probably rare and/or expensive. The supply of this good is inelastic. Inputs used to produce this good are probably rare and/or expensive. The supply of this good is elastic, Inputs used to produce this good are probably cheap and/or plentiful. The supply of this good is inelastic. Inputs used to produce this good...
QUESTION 5 If demand is more elastic and supply is less elastic, then the burden of a tax would fall heavily on consumers. o True False
5. If demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or 6. If supply is inelastic, will shifts in demand have a larger effect on equilibrium price or on Under which circumstances does the tax burden fall entirely on consumers? İpts on price? Ipts quantity? 1pts 8. What is the relationship between price elasticity and position on the demand curve? For example, as you move up the demand curve to higher prices and lower...
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