Suppose that the wage elasticity of labour demand is -0.55. Which of the following statements is true? Group of answer choices A $1 increase in wages corresponds to a 0.55 unit decrease in quantity demanded of labour A 0.55% increase in wages corresponds to a 1% decrease in quantity demanded of labour A $1 increase in wages corresponds to a 0.55% decrease in quantity demanded of labour A $0.55 increase in wages corresponds to a 1% decrease in quantity demanded of labour A 1% increase in wages corresponds to a 0.55% decrease in quantity demanded of labour