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pirex pirex
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6 years ago
If a firm pays its workers $10 per hour, the marginal product of labor is 5 units per hour, and the price of the firm's product is $15 per unit, what is the price elasticity of demand facing the firm?
A) -1.15
B) -2.15
C) -1.0
D) -3.56
Textbook 
Microeconomics

Microeconomics


Edition: 6th
Author:
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1 Reply
And if you call, I will answer
And if you fall, I'll pick you up
And if you court this disaster
I'll point you home
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TecShdwTecShdw
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#1
Posts: 432
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6 years ago
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pirex Author
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6 years ago
Brilliant ツ
cipcal
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jasonbourne
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Thanks for your help!!
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