Explain what happens to the elasticity of demand for labor, Ask an Expert

Economics

Explain what happens to the elasticity of demand for labor in a given industry after which of the following events:

A) A new manufacturing technique makes capital easier to substitute for labor.

B) There is an increase in the number of substitutes for the final product that labor produces.

C) After a drop in the prices of capital inputs, labor accounts for a larger potion of a firm's factor costs.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91916651

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