Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 17 - The Labor Market and the Distribution of Income - Exercises - 17.1 The Demand for Labor - Page 404: 1.6

Answer

steeper and flexibility

Work Step by Step

Less flexibility in the short run as firms can neither enter or leave the market, nor modify their production lines. The demand for labor becomes less elastic in the short run. Due to this short run, the demand curve is steeper.
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