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zbuild007 zbuild007
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6 months ago

What is the relationship between the elasticity of demand for a product and the elasticity of demand for labor (that is used in producing the product)?



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The higher the price of the product, the higher the elasticity of demand for labor.



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The higher the price of the product, the lower the elasticity of demand for labor.



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The higher the elasticity of demand for the product, the lower the elasticity of demand for the product.



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The lower the elasticity of demand for the product, the lower the elasticity of demand for the product.



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There is not enough information to answer the question.

Textbook 
Economics

Economics


Edition: 12th
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raihala49raihala49
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zbuild007 Author
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6 months ago
Thanks for your help!!
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