Suppose the price of capital falls relative to the wage rate and, as a result, the demand
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Suppose the price of capital falls relative to the wage rate and, as a result, the demand for labor increases. Are these inputs gross substitutes, or are they gross complements?
What can you infer about the relative strengths of the output and substitution effects?
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Related Book For 
Contemporary Labor Economics
ISBN: 9780073375953
9th Edition
Authors: Campbell McConnell, Stanley Brue, David Macpherson
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