Q
The Marginal Revenue Product is likely to be wage inelastic if ?
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A
A. Labour costs are a high percentage of total costs
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B
B. Demand for the final product is price inelastic
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C
C. It is relatively easy to substitute capital for labour
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D
D. There are many substitutes for the final product
Correct Answer:
D. D. There are many substitutes for the final product