(1) Labor Demand Curves are a) more elastic in the short-run than in the long run b) less elastic in the short-run than in the long run c) can be upward or downward sloping depending on the relative sizes of the scale and substitution effects of a wage change d) are less elastic the easier it is for the firm to substitute capital for labor

(1) Labor Demand Curves are a) more elastic in the short-run than in the long run b) less elastic in the short-run than in the long run c) can be upward or downward sloping depending on the relative sizes of the scale and substitution effects of a wage change d) are less elastic the easier it is for the firm to substitute capital for labor

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: The Markets For The Factor Of Production

Section: Chapter Questions

Problem 2QCMC

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