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If Anh's Elasticity of Labor Supply Is 1

Question 101

Multiple Choice

If Anh's elasticity of labor supply is 1.5 and she increases her supply of labor by 5 percent,then the wage rate must have

A) Increased by 3.3 percent.
B) Increased by 3.0 percent.
C) Increased by 7.5 percent.
D) Decreased by 7.5 percent.

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