Bombin1118
28.10.2020 •
Business
g An increase in the minimum wage reduces the total amount paid to the affected workers if the price elasticity of
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Ответ:
demand is elastic
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
If demand is elastic and minimum wage is increased, the demand for labour would fall. this would decrease the total amount of wages paid to workers
Ответ:
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