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Assume That the Coefficient of Elasticity of Product Demand Is

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Question 251
Multiple Choice
arrowQuestion 251arrow
Multiple Choice

Assume that the coefficient of elasticity of product demand is 0.5 in industry A and is 3.2 in industry B. Other things equal, labor demand will be


A)more elastic in industry A than in B.
B)relatively elastic in both industries A and B.
C)more elastic in industry B than in A.
D)relatively inelastic in both industries A and B.

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