Multiple Choice
If the demand for a certain type of labor is price elastic, a(n) _______ in its price (wage) will, all other things unchanged, _______ the quantity of that type of labor demanded by a _______ percentage than the percentage increase in price.
A) decrease; reduce; greater
B) increase; reduce; greater
C) decrease; increase; smaller
D) increase; increase; smaller
Correct Answer:
Verified
Correct Answer:
Verified
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