The demand for labor tends to be more inelastic in the long run and more elastic in the short run. A. True B. False Elasticity: Elasticity refers to the change in one variable's measure due to the change in another variable. Elasticity can als...
while the landlords lose. However, over-time when the supply curve becomes more elastic, the shortage increases significantly and the reduction of quality and supply of housing ensue. In addition, as the shortage increases (Elastic supply), the demand for rental housing also increases in response...
In case of manual metal arc welding, welds are time-consuming and labour intensive, while capital intensive in the case of the automatic welding processes. In addition, there are the costs of weld inspection by ultrasonic or radiographic or dye penetrant testing, which contribute to increase the...
Overall, purchased feed costs and labour seems to be the most important cost components, although land and machinery also played roles. The econometric analysis concludes that costs are highly correlated with milk yield and milk price but not to herd size. For a better understanding of milk ...