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If the Wage Rate Increases from $15 to $17 And

Question 143

Multiple Choice

If the wage rate increases from $15 to $17 and, as a result, the quantity demanded of labor decreases from 700 workers to 650 workers, then the absolute value of the elasticity of demand for labor is


A) 0.78.
B) 2.30.
C) 4.50.
D) 0.22.
E) 1.56.

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