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3. Suppose that labor demand for male factory workers in an auto plant is given by Lfn = 40040wm+50wf, Where mm is the hourly wage
3. Suppose that labor demand for male factory workers in an auto plant is given by Lfn = 40040wm+50wf, Where mm is the hourly wage rate for men and wf is the hourly wage of females. Calculate the ownand cross-wage elasticity of demand at the point where mm = 20 and w; = 10 . Is the labor demand curve for males elastic or inelastic at this point? Are male and female workers gross complements or substitutes
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