If the Elasticity of Labor Is 0

question 20

Multiple Choice

If the elasticity of labor is 0.60,a 15 percent increase in the wage rate will induce a

• A)9.0 percent decrease in the quantity of labor supplied.
• B)9.0 percent increase in the quantity of labor supplied.
• C)4.0 percent decrease in the quantity of labor supplied.
• D)4.0 percent increase in the quantity of labor supplied.

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