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Author Question: Under what condition will the demand for a factor bemoreelastic? (Read 40 times)

caca31

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on: Oct 12, 2022

Question 1

In a perfectly competitive labour market, a profit-maximizing firm will employ labour until the
◦ wage = the product's price.
◦ wage = MRP.
◦ wage = MP.
◦ MRP = the product's price.
◦ MPP = MRP.

Question 2

Under what condition will the demand for a factor be more elastic?
◦ when it is easier to substitute between this factor and others
◦ when that factor determines a small percentage of total cost
◦ when the supply of the factor is elastic
◦ when there is little substitutability between factors
◦ when the demand for the good being produced is inelastic
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by caca31 on Oct 12, 2022

dsd1212

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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caca31

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Reply 2 on: Oct 12, 2022
Excellent

covalentbond

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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