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QUESTION
If wages change from $10 per hour to $11 per hour, while Labor hired changes from 100 people to 80 people, and output changes from 1000 widgets to...
If wages change from $10 per hour to $11 per hour, while Labor hired changes from 100 people to 80 people, and output changes from 1000 widgets to 950 widgets, then the elasticity of labor demand is:a. -.25 b. +.25c. -.5 d. +.5e. -2.0 f. +2.0
