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Assume all markets are perfectly competitive. Own-price elasticity of demand for vibranium is 1.1. If there is a. reduction the supply of workers willing to

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Assume all markets are perfectly competitive. Own-price elasticity of demand for vibranium is 1.1. If there is a. reduction the supply of workers willing to work in the vibranium mines, what are the predicted changes in the price of vibranium and the total revenue of vibranium producers? 0 Price increases. Total revenue increases. 0 Price increases. Total revenue decreases. 0 Price decreases. Total revenue increases. 0 Price decreases. Total revenue decreases 0 Unable to determine either the change in price or the change in total revenue. )1

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