allocate the mark coding mul 2+ mocel, PURA To contestab competitich determines this equalibri...

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Question

allocate the mark coding mul 2+ mocel, PURA To contestab competitich determines this equalibriunto 9. If the wage goes up 20

business economics

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Answer 1

Answer #1

Elasticity of labor supply = % age change in quantity of labor supplied / % age change in wages

= 5% / 20%

= 0.25

Supply is inelastic

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Answer 2

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