Question
The market demand curve for skilled labour is _________ because _______ Question 4 options: a) highly elastic; unskilled labour is not easily substituted for other
The market demand curve for skilled labour is _________ because _______
Question 4 options:
a)
highly elastic; unskilled labour is not easily substituted for other skilled labour
b)
more elastic than the sum of individual firms' MRP curves; of factor substitution
c)
less elastic than the sum of individual firms' MRP curves; MPP falls faster for skilled workers than for unskilled workers
d)
less elastic than the sum of individual firms' MRP curves; prices of substitute factors can change
e)
Either (a) or (b), depending on the degree of competition in the product market
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