This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The output effect of a change in the wage rate on a firm's demand for labor input will be greater ... (Read 119 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
The output effect of a change in the wage rate on a firm's demand for labor input will be greater
 a. the larger the share of labor costs in total costs and the greater the price elasticity of demand for output.
  b. the larger the share of labor costs in total costs and the smaller the price elasticity of demand for output.
  c. the larger the share of labor costs in total costs and the higher the quantity demanded.
  d. the smaller the possibilities of substituting capital for labor.

Question 2

The substitution effect of a change in wage rate on a firm's demand for labor input will be more significant
 a. the greater the change in output.
  b. the more sharply curved are the firm's isoquants.
  c. the flatter are the firm's isoquants.
  d. the larger the quantity of labor employed.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sailorcrescent

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

b


HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Cumulative change for six personality-trait domains across the life course show distinct patterns. Cumulative change for six personality-trait domains across the life course show distinct patterns.
All computer systems perform four basic functions: input, processing, storage, and output. All computer systems perform four basic functions: input, processing, storage, and output.
Desertification and Climate Change Desertification and Climate Change
Solar output Solar output
Climate change affects organisms and ecosystems Climate change affects organisms and ecosystems
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library