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Suppose the wage elasticity of labor supply is 5.0 and the wage elasticity of labor demand is 2.0. A 21 percent increase in labor demand

Suppose the wage elasticity of labor supply is 5.0 and the wage elasticity of labor demand is 2.0. A 21 percent increase in labor demand will [increase / decrease] the equilibrium wage by [7.0 / 3.0 / 0.14 / 0.33] percent.

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