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27 September, 22:18

Factors that affect the elasticity of demand for labor include all of these except:

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  1. 28 September, 00:17
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    Since the problem doesn’t give the choices for these questions. I will be giving you the factors that affect the elasticity:

    1. Labor costs as percent of total costs - when labor expenses have a high share in total costs then labor demand is more elastic.

    2. Easiness and cost of factor substitution - when the firm can substitute rapidly and effortlessly between labor and capital inputs.

    3. Price elasticity of demand for the final output produced - if the business is working an extremely competitive market where the final demand of the product is elastic and as a result the demand for labor is more elastic.
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