![lexiships](/avatars/761.jpg)
lexiships
18.04.2021 •
Mathematics
By how much would the quantity of labor demanded decrease if a minimum wage hike raised prevailing wages from $8 to $10 an hour and if the elasticity of labor demand were 0.40?
Solved
Show answers
More tips
- A Auto and Moto How to Deregister a Car in Moscow?...
- F Food and Cooking How to Cook Julienne? Recipes and Tips...
- D Dating, Love, Relationships 10 Useful Tips on How to Survive a Breakup?...
- F Food and Cooking Apple Cider Vinegar: The Ultimate Health and Beauty Solution...
- C Computers and Internet Е-head: How it Simplifies Life for Users?...
- F Family and Home How to Choose the Best Diapers for Your Baby?...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
Answers on questions: Mathematics
- M Mathematics I LiKE YoUr CuT G what s 4 divided by 5?...
- M Mathematics Which question is a statistical? pleas hurry asp...
- M Mathematics 2. a mother decides to teach her son about aletter each day of the week. she will choose aletter from the name of the day. for example,on saturday she might teach about the...
- M Mathematics I already know if it’s proportional or not I just need the number at the bottom plz help me it will mean a lot...
- C Chemistry A1.00 l flask is filled with 1.10 g of argon at 25 ∘c. a sample of ethane vapor is added to the same flask until the total pressure is 1.100 atm .1. part awhat is the partial...
- M Mathematics 3.025 in expanded form...
- B Business Charlotte purchases a residence for $105,000 on April 13, 2010. On July 1, 2018, she marries Howard and they use Charlotte s house as their principal residence. On May 12, 2020,...
Ответ:
it would decrease by 10%
Step-by-step 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
percentage change in price = ($10 - $8) / $8 = 0.25 x 100 = 25%
0.4 = percentage change in quantity demanded / 25%
percentage change in quantity demanded = 25% x 0.4 = 10%
Ответ:
Four hundred eighty two and seventy three hundredths