Which of the following statements(s) are correct with regard to factors affecting the elasticity of labour demand? [I]: If labour costs form a greater production of total input costs, the greater will be the elasticity of labour demand. [II]: If it takes long to develop and/or implement labour-saving technology, the greater will be the elasticity of labour demand. [III] The introduction of new production methods that improve productivity will lead to a greater elasticity of labour demand. a. All three statements are correct. b. Only [II] is correct. c. Only [I] is correct. d. Only [II] and [III] are correct. e. Only [I] and [II ] are correct

Which of the following statements(s) are correct with regard to factors affecting the elasticity of labour demand? [I]: If labour costs form a greater production of total input costs, the greater will be the elasticity of labour demand. [II]: If it takes long to develop and/or implement labour-saving technology, the greater will be the elasticity of labour demand. [III] The introduction of new production methods that improve productivity will lead to a greater elasticity of labour demand. a. All three statements are correct. b. Only [II] is correct. c. Only [I] is correct. d. Only [II] and [III] are correct. e. Only [I] and [II ] are correct

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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