Why labor demand should be relatively inelastic

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A.How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand? Do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-care/landscaping industry?

b. Which one of Marshall's rules suggests why labor demand should be relatively inelastic for public school teachers and nurses? Explain.

Reference no: EM131107604

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