When the cost of dough-making machines fell by 10 percent, the demand for assistant bakers fell by
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When the cost of dough-making machines fell by 10 percent, the demand for assistant bakers fell by 15 percent. What is the cross-wage elasticity of demand for assistant bakers in this case? Are assistant bakers and dough-making machines gross substitutes or gross complements?
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A 10 percent fall in the price of capital ...View the full answer
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Sultan Ghulam Dastgir
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Related Book For 
Modern Labor Economics Theory And Public Policy
ISBN: 9780132540643
11th Edition
Authors: Ronald Ehrenberg, Robert Smith
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