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Is supply of laber elastic or inelastic?

April 26, 2017elastic inelastic supply

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Is supply of laber elastic or inelastic?

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The supply of labor can be elastic if the labor requires very little expertise or training. Meaning picking up a day laborer to do the job doesn’t require any time wasted or money wasted. If the laborer requires training or education then the labor could be inelastic meaning time and money will be lost waiting for the new laborer to become trained.