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Yvette is a retired teacher who lives in Toronto and teaches tennis lessons for extra cash. At a wage of $25 per hour, she is
Yvette is a retired teacher who lives in Toronto and teaches tennis lessons for extra cash. At a wage of $25 per hour, she is willing to teach 6 hours per week. At $35 per hour, she is willing to teach 16 hours per week. Using the midpoint method, the elasticity of Yvette's labour supply between the wages of $25 and $35 per hour is approximately2.73 , which means that Yvette's supply of labour within this wage range is
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