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1.6 The labour market (A-level only)

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Question 3

All other things being equal, the demand for labour is more likely to be wage inelastic if:

it is very easy to substitute other factors of production for labour.

the demand for the final product is highly price elastic.

labour costs represent a very small proportion of total costs.

the firm is operating in the long run rather than the short run.

1.6 The labour market (A-level only) Questions

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  2. /Economics
  3. /1.6 The labour market (A-level only)