Labor demand will be less elastic in those labor markets in which: A. the price elasticity...
Labor demand will be less elastic in those labor markets in which:
| A. |
the price elasticity of demand for the output produced by labor is relatively high. |
|
| B. |
labor costs are a relatively large share of total costs. |
|
| C. |
the supply of other factors is relatively inelastic. |
|
| D. |
the elasticity of substitution between labor and other inputs is relatively high. |
Homework Answers
"D"
The market where the cost of substitution between the labor and other inputs are high will make the firms stick to labor even if the wages are increasing making its demand less elastic or inelastic. The answer is "D".
Add Answer to:
Labor demand will be less elastic in those labor markets in
which:
A.
the price elasticity...
*provide an explanation/reasoning for each answer The own-wage elasticity of labor demand is higher when no...
*provide an explanation/reasoning for each answer The own-wage elasticity of labor demand is higher when no other inputs can easily be substituted for labor. the demand for the output good is less elastic. the supply of other inputs is more elastic the costs of labor are a smaller share of total production costs. none of the above Another input is more likely to be a substitute for labor if the demand for the output good is less elastic. the supply...
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.
Suppose that the price elasticity of demand of a good is -3. Its demand is _________...
Suppose that the price elasticity of demand of a good is -3. Its demand is _________ and the percentage change in its quantity demanded is ________ than the percentage change in its price. A. Elastic: Smaller B. Elastic: Greater C. Inelastic: Smaller D. Inelastic: Greater Which of the following is not a determinant of the price elasticity of demand? A. Availability of substitutes B. Degree of necessity C. Cost relative to income D. Availability of inputs With a(n) ______ demand,...
If the calculated price elasticity of demand between two points is -1.5, demand is A) elastic....
If the calculated price elasticity of demand between two points is -1.5, demand is A) elastic. B) unit-elastic. C) unresponsive to price. D) inelastic. When a household spends over 70% of its monthly income on a good, demand will be elastic. unit-elastic. inelastic. elastic, unit-elastic or inelastic depending upon supply.
Suppose the price elasticity of supply for a good is 2.0. This means... The supply of this good is elastic. Inputs...
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...
5. The cross-price elasticity of demand between good A and good B is -1.4. These goods...
5. The cross-price elasticity of demand between good A and good B is -1.4. These goods are: A. Complements B. Substitutes C. Unrelated Goods D. Inelastic Goods 6. Income elasticity of demand for streaming video is 0.5, which indicates that streaming video is a: A. Normal good B. Inferior good C. Not good D. Can't say for sure 7. When the price of sriracha increases by 15%, you observe quantity supplied increase by 25%. Elasticity of supply is: A. 0.6...
5. Determinants of the price elasticity of demand Consider some determinants of the price elasticity of...
5. Determinants of the price elasticity of demand
Consider some determinants of the price elasticity of
demand:
• The availability of close substitutes
• Whether the good is a necessity or a luxury
• How broadly you define the market
• The time horizon being considered
A good with many close substitutes is likely to have relatively
__(Elastic, Inelastic)___ demand since consumers can easily choose
to purchase one of the close substitutes if the price of the good
rises.
A...
NAME SECTION LAST NAME FIRST NAME PRICE ELASTICITY OF DEMAND price elasticity of demand measures how...
NAME SECTION LAST NAME FIRST NAME PRICE ELASTICITY OF DEMAND price elasticity of demand measures how much in percentage terms demand fails to the left) when price is demandes (shifts to the right when price ralls quantity demanded falls when price is quantity demanded rises when price rises the graphs below to answer questions 2 and 3. Graph A Price Price Graph B Demand Demand - Quantity Quantity demand. Graph A represents unit elastic zer elastic perfectly inclastic perfectly elastic...
Question text Suppose that there are three types of markets with different degrees of price elasticity....
Question text Suppose that there are three types of markets with different degrees of price elasticity. In Market 1, the demand curve is perfectly inelastic and the supply curve is relatively steep. In Market 2, the supply curve is relatively flat and the demand curve is relatively steep. In Market 3, the supply curve is relatively steep and the demand curve is relatively flat. Which of the following statements is (are) correct? (x) All of the burden of the tax...
d)In what types of labor markets might labor supply be relatively wage elas - tic? In...
d)In what types of labor markets might labor supply be relatively wage elas - tic? In what types of markets might labor supply be relatively wage inelastic? e) In what types of labor markets might labor demand be relatively wage elastic? In what types of markets might labor demand be relatively wage inelas tic?
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.
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...
5. The cross-price elasticity of demand between good A and good B is -1.4. These goods are: A. Complements B. Substitutes C. Unrelated Goods D. Inelastic Goods 6. Income elasticity of demand for streaming video is 0.5, which indicates that streaming video is a: A. Normal good B. Inferior good C. Not good D. Can't say for sure 7. When the price of sriracha increases by 15%, you observe quantity supplied increase by 25%. Elasticity of supply is: A. 0.6...
5. Determinants of the price elasticity of demand
Consider some determinants of the price elasticity of
demand:
• The availability of close substitutes
• Whether the good is a necessity or a luxury
• How broadly you define the market
• The time horizon being considered
A good with many close substitutes is likely to have relatively
__(Elastic, Inelastic)___ demand since consumers can easily choose
to purchase one of the close substitutes if the price of the good
rises.
A...
NAME SECTION LAST NAME FIRST NAME PRICE ELASTICITY OF DEMAND price elasticity of demand measures how much in percentage terms demand fails to the left) when price is demandes (shifts to the right when price ralls quantity demanded falls when price is quantity demanded rises when price rises the graphs below to answer questions 2 and 3. Graph A Price Price Graph B Demand Demand - Quantity Quantity demand. Graph A represents unit elastic zer elastic perfectly inclastic perfectly elastic...
Most questions answered within 3 hours.
-
1)
Why is bulk transport necessary in both plants and animals?
The premise of the question...
asked 20 minutes ago -
Container A holds 762 mL of ideal gas at 2.60 atm. Container B
holds 144 mL...
asked 21 minutes ago -
The table below shows the number of state-registered automatic
weapons and the murder rate for several...
asked 22 minutes ago -
Data from the past shows that on average, a ready-mixed concrete
plant receives 100 orders for...
asked 25 minutes ago -
What is the result of the following in MongoDB?
>use MovieDB
>db.movies.find( { genre: { $ne:...
asked 24 minutes ago -
What is the NPV?
r=9.28
c1= 5.853
c2= 6.37 + 1,826.76
asked 47 minutes ago -
Please think of 2 on line only retailers that might benefit from
a brick and mortar...
asked 1 hour ago -
The definition of a partition
function involved a sum over all states, and knowledge of the...
asked 2 hours ago -
Which of the following events would be considered Systematic?
(Choose all that apply.)
A. The Federal...
asked 2 hours ago -
Questions of this part analyze the students’ understanding in
analyzing the given scenario and practical skills...
asked 2 hours ago -
#C++
Write a function, named sortByCourseNumber, that takes a
reference to a vector of string (like...
asked 2 hours ago -
A
cylunder of titanium (length = 5.00cm, diameter = 1.20 cm) has a
mass of 25.5...
asked 4 hours ago