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Author Question: Suppose that before any tax on labor income, the equilibrium wage in a market is $10 per hour. Once ... (Read 49 times)

cool

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on: May 24, 2019
Suppose that before any tax on labor income, the equilibrium wage in a market is $10 per hour.
Once the government imposes a $3 per hour tax on labor income, the equilibrium wage rises to $11 per hour. What does that reveal about the elasticities of supply and demand for labor?
◦ Supply is more elastic than demand.
◦ Demand is more elastic than supply.
◦ Supply and demand are equally elastic.
◦ Both the supply and demand are inelastic.
◦ Nothing because more information is needed to learn about the elasticities.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by cool on May 24, 2019

hugthug12

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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cool

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Reply #2 on: May 24, 2019
TY


hugthug12

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Reply #3 on: May 24, 2019
You're welcome


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