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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

Correct Answer:

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