ECO 365 Week 2 DQ 3 - Latest Version 2014

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List the four factors that influence the elasticity of demand for labor and apply them to your own job (or the one you hope to get after graduation) to predict:
1. how each of the factors impacts your chances of getting/keeping that job and:
1. the income you earn (or expect to earn).

Answer:
From the text the four factors that influence the elasticity of demand for labor are:
1. The elasticity of demand for the firm’s good.
2. The relative importance of labor in the production process.
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