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QUESTION
Can I have helpThe demand for labor curve will be more elastic for the firm than for the industry
Can I have help
The demand for labor curve will be more elastic for the firm than for the industry
because
a. if all firms hire more labor, the product price will rise.
b. if all firms hire more labor, diminishing returns will not set in as quickly.
c. of none of the above reasons.
d if all firms hire more labor, increased output will lower product price and therefore make the marginal
revenue product curve more inelastic. of none of the above reasons.
