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10. Consider the truthfulness of the following statements. I. The lower is the elasticity of substitution between capital and labor, the more inelastic labor demand

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10. Consider the truthfulness of the following statements. I. The lower is the elasticity of substitution between capital and labor, the more inelastic labor demand will be. II. Labor demand is perfectly elastic for xed proportion production functions. a. Only statement I is true. b. Only statement 11 is true. 0. Both statements I and II are true. (1. Neither statement is true

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