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Why is the long run labor demand curve more elastic than the demand for labor in the short run? Group of answer choices a. In the long run, firms are better able to substitute capital for labor than in the short run. b. Firms are more likely to shut down in the long run c. Firms face diseconomies of scale in the short run, but economies of scale in the long run d. The demand for labor is perfectly inelastic in the short run, but perfectly elastic in the long run

Why is the long run labor demand curve more elastic than the demand for labor in the short run? Group of answer choices a. In the long run, firms are better able to substitute capital for labor than in the short run. b. Firms are more likely to shut down in the long run c. Firms face diseconomies of scale in the short run, but economies of scale in the long run d. The demand for labor is perfectly inelastic in the short run, but perfectly elastic in the long run

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Why is the long run labor demand curve more elastic than the demand for labor in the short run?
Group of answer choices
a. In the long run, firms are better able to substitute capital for labor than in the short run.
b. Firms are more likely to shut down in the long run
c. Firms face diseconomies of scale in the short run, but economies of scale in the long run
d. The demand for labor is perfectly inelastic in the short run, but perfectly elastic in the long run
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