When the Wage Was $10 Per Hour, a Group of Workers

question 3

Multiple Choice

When the wage was $10 per hour, a group of workers supplied 30 hours of work per week on average. The wage then increased to $12 per hour, and the same group of workers supplied 33 hours of work per week on average. What is the elasticity of labor supply for this group of workers?

• A) 0
• B) 0.5
• C) 1.0
• D) 1.5
• E) 2.0

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Definitions:

Uric Acid

A chemical created when the body breaks down substances called purines, excessive amounts of which can lead to gout and kidney stones.

Osteons

Structural units within compact bone tissue, consisting of concentric layers of calcified matrix.

Coxal Bone

Also known as the hip bone, it forms the pelvis by joining with the sacrum and the coccyx at the base of the vertebral column.

Ilium

The most superior part of the hip bone. It is broad and flaring.