What Will the Elasticity of Resource Demand Be If Unit

question 134

Multiple Choice

What will the elasticity of resource demand be if unit wages rise by 8 percent and the number of employed workers falls by 5 percent?

• A) 0.63
• B) 1.60
• C) 2.90
• D) 4.00
• Elasticity of resource demand is the absolute value of the percentage change in quantity of workers divided by the percentage change in resource price.In this case,elasticity is |0.05/-0.08| =0.63.

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Interest Payment

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Yield To Maturity

The total return anticipated on a bond if it is held until the end of its lifetime.

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