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Author Question: It is said that a wage increase can have two opposing effects. Which of the following captures these ... (Read 73 times)

bobbie

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on: Jun 30, 2018
It is said that a wage increase can have two opposing effects. Which of the following captures these two effects?
 a. A backward-bending labor-supply curve
  b. A perfectly elastic labor-supply curve
  c. A perfectly inelastic labor-supply curve
  d. A perfectly elastic labor-demand curve
  e. A backward-bending labor-demand curve

Question 2

Which of the following is a determinant of price elasticity of demand?
 a. Availability of substitute goods
  b. Excess capacity
  c. Scale of production
  d. Inventories
  e. Cost of production


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Pariscourtney

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


bobbie

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

aliotak

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Reply 3 on: Yesterday
Excellent

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