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What does it mean if wage elasticity of labour demand is greater than 1? More people are willing to work as the wage rises. A
What does it mean if wage elasticity of labour demand is greater than 1? More people are willing to work as the wage rises. A small change in the wage rate results in a larger change in quantity of labour demanded. A small change in the wage rate results in a smaller change in quantity of labour demanded. Employers will hire more people as the MRP is positive
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Introduction to Behavioral Economics
Authors: David R. Just
1st edition
0470596228, 978-0470596227
