Business, 25.11.2020 14:20, mainray1792

One factor that affects the elasticity of demand for labor is its share of total production costs. The greater labor's share of production costs, the elasticity of demand for labor. The year is 2035. In many occupations, robots are replacing humans. As it turns out, robots make very good factory workers but very poor ski instructors. Assuming the other determinants of demand for the two services are roughly similar, you would expect the demand for human ski instructors to be the demand for human factory workers.

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One factor that affects the elasticity of demand for labor is its share of total production costs. T...