The supply curve of a human resource will be more elastic the a. easier it is to obtain the skill and knowledge necessary to provide the resource. b. more elastic the demand for the product. c. more inelastic the demand for the product. d. higher the skill level necessary to perform the job

The supply curve of a human resource will be more elastic the a. easier it is to obtain the skill and knowledge necessary to provide the resource. b. more elastic the demand for the product. c. more inelastic the demand for the product. d. higher the skill level necessary to perform the job

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 23RQ: What is the formula for the wage elasticity of labor supply?

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Question

The supply curve of a human resource will be more elastic the

a. easier it is to obtain the skill and knowledge necessary to provide the resource.

b. more elastic the demand for the product.

c. more inelastic the demand for the product.

d. higher the skill level necessary to perform the job

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