There is a large change in supply that is 11% which only changes the wages by a

Fantastic news! We've Found the answer you've been seeking!

Question:

There is a large change in supply that is 11% which only changes the wages by a small per cent that is, 3.2% this implies that the demand for labour is more elastic than the supply for labour. Or in other words, demand is elastic relative to supply.

why the demand is more elastic. please expalin it.

Posted Date: Jun 25, 2024 09:10 PM

See More Questions

Explain what is meant by the term relevant range. (o. 234)
Using the information for Hornick and Sena, the systems consultants in P9-3 and P9-4, prepare a budgeted income statement for the year ended December 31, 2013. In p9-3 Hornick and Sena, partners in a...
Question 2 (1 point) The graphs of three functions are given below: f (in blue), g (in green), and h (in red). These functions are continuous on (0, oo). Assume that the graphs continue in the same...
How can a company finance a significant capital investment project? Why would a company choose one financing option over another?
Mevellec Company uses a job-order cost system to track its production costs. The following activities have been performed for Job number 515: Requisition of three units of part 34 at 40 per unit,...
Find what modification of Eq. (6.3-32) must be made if the light incident on the detectors is unpolarized thermal light. SM rms M/2 1+2 B/b - b 4B (6.3-32)
Tim Colley and John Williams had not been in business long as Heritage Research Associates, a small marketing research firm they started in their hometown. They were barely making ends meet by taking...
Jeff Dean, the aspiring restaurant owner, was a very happy camper. He had learned that his dream of LExperience Flicit Restaurant could be a reality. Through the research conducted under Cory Rogerss...
Shown below is part of a questionnaire used to determine consumer preferences for digital cameras. Set up a coding scheme for the following three questions (Q9, Q10, and Q11). Note that the first...
Trace the execution of the following fragment. int m = 10, n 5; int *mp, *np; mp = &m; np = &n; *mp = *mp + *np; *np = *mp - *np; printf("%d %d %d %d ", m, *mp, n, *np); 1 Add file

There is a large change in supply that is 11% which only changes the wages by a

Question:

Expert Answer:

Students also viewed these economics questions