Multiple Choice
A labor supply elasticity of 0.1 means that a wage increase of 10 percent will:
A) reduce the quantity of labor supplied by 10 percent.
B) increase the quantity of labor supplied by 10 percent.
C) increase the quantity of labor supplied by 1 percent.
D) reduce the quantity of labor supplied by 1 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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