Firm's short-run elasticity, Managerial Economics

A firm's technology needsit to combine 5 person-hours of labor with 3 machine-hours to make 1 unit of output. The firm has 15 machines in place and the wage rate rises from $10 per hour to $20 per hour. What is the firm's short-run elasticity of labor demand?

Posted Date: 3/14/2013 7:21:33 AM | Location : United States

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