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Author Question: The price elasticity of the supply of teenage labor services is approximately 1.36. Suppose the ... (Read 43 times)

dalyningkenk

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The price elasticity of the supply of teenage labor services is approximately 1.36. Suppose the minimum wage rises from 7.25 per hour to 8.75. Using the midpoint formula, what is the approximate change in the quantity of teenage labor supplied?
 
  A) 7.3 percent
  B) 14.4 percent
  C) 25.5 percent
  D) There is insufficient information to answer the question.

Question 2

Refer to Table 9-12. With trade, what is the total gain in belt production?
 
  A) 20 B) 40 C) 60 D) 120


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tofugiraffe

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dalyningkenk

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)


LVPMS

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Reply 3 on: Yesterday
Gracias!

 

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