Q47 In the Canadian labour market, demand for labour can be impacted by elasticity of the product in which labour is an input. Assume that the coefficient of elasticity of product demand in Canada is 2.4 in industry A (cannabis sector) and is 0.8 in industry B (fertilizer industry). Other things equal, labour demand will be Multiple Choice relatively elastic in both industries A and B. more elastic in industry B than in A. constant in both industries A and B. more elastic in industry A than in B. relatively inelastic in both industries A and B.
Q47 In the Canadian labour market, demand for labour can be impacted by elasticity of the product in which labour is an input. Assume that the coefficient of elasticity of product demand in Canada is 2.4 in industry A (cannabis sector) and is 0.8 in industry B (fertilizer industry). Other things equal, labour demand will be Multiple Choice relatively elastic in both industries A and B. more elastic in industry B than in A. constant in both industries A and B. more elastic in industry A than in B. relatively inelastic in both industries A and B.
Chapter13: Factor Markets: With Emphasis On The Labor Market
Section: Chapter Questions
Problem 14QP
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Q47
In the Canadian labour market,
Multiple Choice
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