Editions for The Practical Skeptic: Readings in Sociology: 0073404438 (Paperback published in 2010), 0767420780 (Paperback published in 2001), 0078026881... Editions for The Practical Skeptic: Readings in Sociology: 0073404438 (Paperback published in 2010), 0767420780 (Paperback published in 2001), 0078026881... Home My Books
Ceteris paribus or caeteris paribus is a Latin phrase meaning with other things the same or all or other things being equal or held constant or  all other things being equal  or  all else being equal .
So if we put both the real wage and MVP of labor on one axis and employment (labor demand) on the other: As we change the real wage, we change the labor employed: Wage Elasticity of Demand: Because of derived demand, ceteris paribus, the wage elasticity of demand for a category of labor is high under the following conditions: 1. when the price elasticity of demand for the product being produced is high; Implication: demand for labor at the firm level will be more elastic than demand for labor at the industry or market level.