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October 22, 2014

October 22, 2014

Posted by **Jon** on Monday, September 21, 2009 at 10:24pm.

- Economics/Calculus -
**economyst**, Tuesday, September 22, 2009 at 9:05amElasticity is (%change in Q)/(%change in P) Here the wage rate is P and output is hours. Here (%change in Q) mid-point method is 1/5.5 = 18.18%. Take it from here.

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