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Business, 16.11.2020 18:10 earaceli222
Suppose capital is readily substitutable for labor and that the price of capital falls. We can conclude that the :a) output effect will tend to reduce the demand for labor. b) demand for labor will necessarily decline. c) substitution effect will tend to reduce the demand for labor. d) demand for labor will necessarily increase.
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Suppose capital is readily substitutable for labor and that the price of capital falls. We can concl...
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