If the Quantity of Steel Workers Demanded Falls from 30,000

question 5

Multiple Choice

If the quantity of steel workers demanded falls from 30,000 to 20,000 when the equilibrium wage increases from $9.00 per hour to $11.00 per hour,then the own-wage elasticity of demand for these workers is

• A) -2.0.
• B) -0.5.
• C) -0.4.
• D) -0.2.

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