Use the above figure. When the price increases from $2 to $10, the absolute price elasticity of demand is

Which will NOT affect the elasticity of demand for labor?

A) the labor intensity of the production process B) the elasticity of supply for labor C) the elasticity of demand for the good D) the substitutability of capital for labor

Suppose losses cause industry Z to contract, and as a result, the prices of inputs used intensively in the industry's production process fall. We know, as a result, that industry Z is: a. an increasing cost industry

b. a constant cost industry. c. a decreasing cost industry. d. experiencing diminishing returns.