If the Wage Rate Increases from $15 to $17 And

question 143

Multiple Choice

If the wage rate increases from $15 to $17 and, as a result, the quantity demanded of labor decreases from 700 workers to 650 workers, then the absolute value of the elasticity of demand for labor is

• A)0.78.
• B)2.30.
• C)4.50.
• D)0.22.
• E)1.56.

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