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One factor that affects the elasticity of demand for labor is the elasticity of demand for the product itself. The higher the price elasticity of
One factor that affects the elasticity of demand for labor is the elasticity of demand for the product itself. The higher the price elasticity of demand for a product, the the elasticity of demand for labor. The year is 2117. In many occupations, robots are replacing humans. As it turns out, robots make very good housecleaners but very poor babysitters. Assuming the other determinants of demand for the two services are roughly similar, you would expect the demand for human housecleaners to be the demand for human babysitters
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