Answered

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The relationship between the elasticity of product demand and the elasticity of demand for labor employed in its production is such that, other things being equal, the more elastic the demand for the product, the more elastic the demand for labor. the more elastic the demand for the product, the less elastic the demand for labor. the elasticity of product demand only affects the elasticity of labor demand when the product market is purely competitive. if product demand is perfectly elastic, labor demand will be perfectly inelastic.

Sagot :

gauravsingh23VT

The more elastic the demand for the product, the more elastic the demand for labor is the relationship between the elasticity of product demand and the elasticity of demand for labor employed.

What is the elasticity of demand?

Elasticity of demand refers to the change in the demand of the product due to the change in the price level of the product. If the price of the product will increase then the demand will decrease and if price will decrease the demand will increase.

Thus, option A is correct.

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