According to Empirical Estimates,when Wages Are Increased by 10%,the Quantity

question 12

Multiple Choice

According to empirical estimates,when wages are increased by 10%,the quantity of labor demanded typically falls by about

• A) 3% in the short run, but 6% in the long run.
• B) 5% in the short run, but 10% in the long run.
• C) 10% in the short run, but 20% in the long run.
• D) more in the short run than in the long run.

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