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Given the following info, indicate whether you would expect the demand for labor in the markets inelastic or elastic. Explain why.

1. Demand for beer is inelastic in the short run. Market: Beer plant workers in the short run.

2. Today many patients feel that nurse practitioners can easily substitute for medical doctors to provide routine health care. Market: Medical doctors for routine health care

3. Robots are easily substituted for manual labor. Market: manual labor

Macroeconomics, Economics

  • Category:- Macroeconomics
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