Economics A Level: What does it mean for the Demand of Labour to be
1. Elastic?
2. Inelastic?

Question

What does it mean for the Demand of Labour to be 
1. Elastic?
2. Inelastic?

go kys · Accepted Answer

1. Small changes to the Wage Rate lead to Large Changes in the Quantity of Labour Demanded. 
2. Large Changes to the Wages Rates leads to Smaller Changes in Quantity of Labour Demanded

Economics A Level

What does it mean for the Demand of Labour to be 1. Elastic? 2. Inelastic?

1. Small changes to the Wage Rate lead to Large Changes in the Quantity of Labour Demanded. 2. Large Changes to the Wages Rates leads to Smaller Changes in Quantity of Labour Demanded

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