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 105 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
Thanks for the timely response, appreciate it

bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Effect of clinical decison support systems Effect of clinical decison support systems
Effect of RYGB Surgery in Rats Effect of RYGB Surgery in Rats
Maximal Heart Rate Over Time Maximal Heart Rate Over Time
All computer systems perform four basic functions: input, processing, storage, and output. All computer systems perform four basic functions: input, processing, storage, and output.
Most drugs exhibit first-order elimination, in which the rate of drug elimination is equivalent to ... Most drugs exhibit first-order elimination, in which the rate of drug elimination is equivalent to ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Heart Chambers

For a complete list of videos, visit our video library