a pin jointed four bar mechanism, s shown in the figure, crank AB = 50 mm and rotate clockwise at 150 om lipl RC m pm Whilo liplk C

True, False or Uncertain. Explain your answer. Own wage elasticity JELLlincrease if product demand elasticity n? is high. In short run, when there is an increase in wage rate, each firm will hire less labor and so the industry labor demand is simply the horizontal summation of firm's labor demand. а. b. Labor demand is represented by the marginal revenue produce schedule (MRP) when we have competitive product market while it will be represented by the value of marginal product schedule (VMP) when we have a product market monopolist. When elasticity of substitution, SLK, increase that means the L and K are less substitutable, and the isoquant will be L-shaped. Minimum wage imposed by the government is always bad for the economy because it increase unemployment and deadweight loss. с. d. e. 3.

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