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When the wage was $19 per hour, a group of workers supplied 48 hours of work per week on average. The wage then increased to
When the wage was $19 per hour, a group of workers supplied 48 hours of work per week on average. The wage then increased to $27 per hour, and the same group of workers supplied 92 hours of work per week on average. What is the elasticity of labor supply for this group of workers? (please calculcate to 2 decimal places, make sure that you keep the sign correct)
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