Refer to the given data. Over the $10 to $8 range of wage rates, the demand for labor is:
A. perfectly elastic.
B. elastic.
C. unit-elastic.
D. inelastic.
D. inelastic.
You might also like to view...
Suppose the government in a certain country wants to reduce urban sprawl
What measures could it take to ensure that people choose to live closer to the central business district? (Urban sprawl refers to the development of residential and commercial areas in the suburbs around the periphery of a city. One of the main problems with urban sprawl is that it leads to increased traffic congestion and air pollution as commuters travel to the city every day.)
Price leadership is a form of explicit collusion where one firm in an oligopoly announces a price change and expects all other firms to follow suit
Indicate whether the statement is true or false
Most economists think changes in which type of unemployment affects inflation?
A) frictional unemployment B) cyclical unemployment C) structural unemployment D) natural rate of unemployment
Which of the following is an example of a cartel?
a. Advanced Micro Devices b. AREVA c. Organization of the Petroleum Exporting Countries d. Combat Observation Laser Teams e. Lloyds Banking Group