Wage Elasticity of Labor Demand Score
A Wage Elasticity of Labor Demand Score is a Price Elasticity of Demand Score for a Wage Elasticity of Labor Demand Measure.
References
2013
- http://elearning.la.psu.edu/econ/315/lesson-4/elasticity-of-labor-demand
- QUOTE: The terms elastic and inelastic, as used above, have both technical and relative uses. The technical use depends on the absolute value of the elasticity calculation above.
- If the absolute value of the elasticity of labor demand is > 1, that portion of demand curve is considered ELASTIC.
- If the absolute value of the elasticity of labor demand is < 1, that portion of demand curve is considered INELASTIC.
- (If the absolute value of the elasticity of labor demand is = 1, that portion of demand curve is considered UNIT ELASTIC.)
- QUOTE: The terms elastic and inelastic, as used above, have both technical and relative uses. The technical use depends on the absolute value of the elasticity calculation above.