If the Wages of Nike Employees Increase by 25% and the Quantity

question 148

Multiple Choice

If the wages of Nike employees increase by 25% and the quantity of labor demanded decreases by 10%, the demand for labor

• A) is inelastic.
• B) is unitarily elastic.
• C) is elastic.
• D) cannot be calculated.

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Definitions:

Proportions

The relationship between quantities in terms of magnitude or size, often used to compare parts of a whole or elements in different wholes.

Minority Group

A group of people who, due to their physical or cultural characteristics, are singled out from the others in the society in which they live for differential and unequal treatment.

Sociologists

Scientists who study the development, structure, and functioning of human society, including social relationships, institutions, and behaviors.

Prejudice

A preconceived opinion or judgment, often grounded in irrational bias or stereotypes, against a person or group.