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Suppose that studies show that a ten percent increase in the minimum wage decreases the number of minimum wage jobs by one percent. That would be the case if:

▸ supply of labor is elastic.

▸ supply of labor is inelastic.

▸ demand for labor is inelastic.

▸ demand for labor is elastic.
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Microeconomics: Principles, Applications, and Tools

Edition: 8th
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A month ago
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demand for labor is inelastic.
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