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 96 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
Gracias!

abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

The ozone hole in September, 2003. Even as scientists verified that the rate of ozone depletion was The ozone hole in September, 2003. Even as scientists verified that the rate of ozone depletion was
Sleep Requirements Change with Age Sleep Requirements Change with Age
The induced conformational change in hexokinase The induced conformational change in hexokinase
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Effect of Education on Wages Effect of Education on Wages
Management Information Systems: Managing the Digital Firm, 15th Edition Management Information Systems: Managing the Digital Firm, 15th Edition
Video: The Nerve Impulse

For a complete list of videos, visit our video library